TEELS - Tasmanian Energy Efficiency Loan Scheme
Interest Free Loan for residences & small businesses
TEELS, or the Tasmanian Energy Efficiency Loan Scheme, is a joint initiative of the Tasmanian Government and Aurora Energy – in collaboration with Westpac – to assist our Tasmanian community with the purchase of energy efficient products. All products and services offered by Home Efficiency Group are eligible.
In a nutshell:
- TEELS is offered to Tasmanian’s via a Westpac credit card, which is interest-free for 36 months when used for eligible & approved energy efficiency products. The fund is currently limited to $10,000, although higher purchases can be made in combination with your own funds.
- If you are a resident or small business in Tasmania, then you can access services from eligible businesses that have been operating in Tasmania for at least 18 months i.e. this ensures that (a) inexperienced companies or (b) dodgy fly-in and fly-out companies aren’t used and (c) funding stays within the state.
Multiple people in the house may be eligible for the interest-free credit card, and may apply for up to $10k of eligible products.
To begin the application process:
- You MUST already have a quotation for professionally-installed product/products (e.g. insulation + window condensation control system + solar energy system) from a Tasmanian-based retailer or service provider (e.g. Home Efficiency Group) that has been operating in Tasmania for at least 18 months. (Note: The quotation is allowed to be a remote estimation, which can be adjusted at a later time, potentially.) IMPORTANT NOTE: You can only do ONE application with Westpac for eligible products, so you may have to have ALL of the quotations for ALL of the eligible products prior to applying.
- Click on the “GET STARTED” link on the TEELS page to register your interest with Westpac.
- Westpac will contact you to arrange an in-person meeting. Once again – you MUST have your quotation with you at the Westpac meeting as you only get one chance for the application.
For terms and conditions, as well as Frequently Asked Questions (FAQ’s), visit the TEELS information page.
As we have seen quite a few funding arrangements over the years, our suggestion is to GET IN QUICK!! 2000 people have pre-registered, which means that if everyone goes ahead with a $10k loan, the $10m limit will be over-subscribed by double.
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