Environmental Upgrade Finance

Euneva - solar panels

Monash businesses can access an Environmental Upgrade Finance program to fund projects that will save them money and improve their buildings' economic and environmental performance.

Environmental Upgrade Finance (EUF) is a type of long-term, low-interest loan that helps commercial building or property owners fund upgrades to improve their buildings’ environmental performance.

The loans are administered via an Environment Upgrade Agreement (EUA) between a financial institution, a property owner and Council. The financial institution advances money to a commercial property owner to undertake upgrade works. Repayments are then made through the Council rates for the property. Council forwards the repayments to the financial institution.

The Sustainable Australia Fund is working in partnership with Council to deliver this service.

The benefit of Council involvement is that the loan is attached to the Council rates for the commercial property, and therefore has a high level of security. This security enables the financial institution to offer very attractive loan terms.

Benefits to businesses

  • Ability to fund positive changes that benefit the environment
  • Protect your business from rising energy prices
  • Replace old and inefficient equipment with newer more efficient technologies
  • Free up cashflow by locking in competitive long-term rates
  • Reduce operating costs and greenhouse gas emissions

Eligibility Criteria

To qualify, applicants need to meet the eligibility criteria listed below, as well as any credit criteria set by the lender:

  • The upgrade is to existing buildings, located on rateable land within council boundaries.
  • The upgrade project has a measurable environmental benefit, such as energy, water or waste, or addresses other sustainability or climate change issues.
  • The property must be predominantly non-residential (such as commercial or industrial) and not be owned by a self-managed superannuation fund.
  • The property and/or property owner is not in the business of fossil fuels, live animal export, intensive farming, gambling, tobacco, or the arms industry.
  • The business and property must not have any outstanding Council rates and charges. 

What type of projects are eligible?

Eligible commercial property owners can apply to finance up to 100% of project costs that improve the energy, water, environmental efficiency, or overall sustainability of an existing building. Repayments are structured through Council's rates on a quarterly basis. The minimum loan amount is $15,000.

Projects may include:

  • Installation of an approved solar hot water or solar panel system to any eligible premises
  • Lighting upgrades to more efficient lighting, for example, LED, lighting controls and daylight sensors
  • Heating, cooling and ventilation improvements or external facade upgrades for solar shading
  • Energy-efficient unit replacement, for example, pumps and variable speed control equipment
  • Electronic control equipment, for example, power control of motors, pumps, boilers and heating/cooling systems
  • Rainwater harvesting and filtration systems
  • Wastewater or grey/black water recycling/treatment for re-use of water
  • Toilet/urinal replacements for accredited and compliant water-efficient systems 

How do I apply?

If you have any questions about Environmental Upgrade Finance or the application process, get in contact with the Sustainable Australia Fund via:

You can submit your Environmental Upgrade Agreement application online.

Find related information here:

Environmental Upgrade Finance Template(PDF, 614KB)

Building Owner Statutory Declaration(DOC, 90KB)

More information

For more information on Environment Upgrade Agreements or other funding options, please visit: 

You can also contact the Sustainability Team at Monash Council on 9518 3555 or email sustainability@monash.vic.gov.au