People in the market for an energy efficient car may be eligible for a discounted loan after a $50 million agreement was struck.
Australian lender Firstmac and the Clean Energy Finance Corporation have agreed to provide cheaper loans for measures to reduce emissions, including building upgrades and solar installations.
Firstmac managing director Kim Cannon said around $25 million would be spent on cheaper loans for environmentally-friendly cars.
“We anticipate the agreement will provide loans for several thousand low-emission vehicles, as well as finance for installing solar power and energy efficient business equipment,” he said.
Low-emission car loans would be available at a rate of just under six per cent.
Passenger vehicles that emit 141 grams or less of carbon dioxide per kilometre are eligible under the scheme, as well as utes and vans that emit no more than 188 grams.
Over 600 vehicle variants are covered by the scheme.
Environmental group the Climate Council welcomed the announcement, saying more people will have access to clean energy products.
Originally from SBS