When EUAs (Environmental Upgrade Agreements) first started in Vic back in 2002, they were called EUAs. More recently, we've started to refer to this type of finance as Building Upgrade Finance (BUF) or an EUF (Environmental Upgrade Finance). In South Australia, they are referred to as Building Upgrade Finance (BUF).

So EUF or BUF? It doesn't matter - they are the same thing!

Can I Use This for My House?

Yes - very soon. Vic Govt will pass legislation this year to allow fiance for your private home. Contact us and we'll let you know when. Also, have a look at our Use Cases as a simple Solar Install could actually make you up to $2000 a year better off. There are loads of upgrades you can make for your house.

Can I Use This For a Commercial Building?

Yes - right now! Most LGAs/Councils in Vic support this finance. In NSW and SA, some Councils allow EUAs. BUT - don't be put off. ANY Council in NSW and SA is allowed to provide EUAs (the State Govts have enacted the legislation), the Council has to have customers to make it happen). In short - if you are in NSW or SA there is every chance your Council supports this finance. Regardless, we work with all councils and can help the Council through the process to allow you to take out an EUA. Contact us for more detail and we can definitely help. 

I Have a Commercial Property And It Has Some Residential Units

That's ok, so long as the Building/Property is mostly for commercial (non-residential) use, you'll find that an EUA can be used. Again - give us a shout, we can help you out. 

When Will EUAs be available for Residential Homes?

In . Vic, the answer is 'soon'. Govt has been busy after a hectic 2019 and we expect Vic to announce EUAs for Residential/Private homes soon. Contact us and we'll let you know as soon as it happens.

What is an EUA / EUF?

An Environmental Upgrade Agreement/Finance (EUA/F) is a financing mechanism made under NSW/Vic/SA legislation which allows building owners to repay a loan for upgrades to their building through a local council charge on the land. It can be used for a range of upgrade works improving the environmental and sustainability performance of existing buildings. The loan entered into between a building owner, a lender and their local council

Where Can I Find Out More?

The Building Upgrade Finance website has been developed to provide an independent, single source of information for this unique finance product. The website development is a collaborative initiative between the state governments of New South Wales, South Australia and Victoria who have enabled Building Upgrade Finance in their jurisdictions.


Does The Govt Charge To Do This?

The agreed repayment arrangements for an EUA may require council to levy an Environmental Upgrade Charge (EUC) for the purpose of discharging the building owner’s obligation to repay the advance made by the finance provider under the agreement. So yes, some LGAs may apply an administration fee.

Do EUAs Benefit The Community?

Yes - they do. Around one fifth of the energy produced in Australia is consumed in buildings and accounts for around around 25% of Australia’s total greenhouse gas emissions. Roughly, they are produced 50:50 by Commercial and Residential buildings. These emissions are growing at 3-4 per cent each year, due to increased space (more offices, shopping centres) and more intensive energy use (longer hours of operation, more computers, air conditioning). Improving energy efficiency in the building sector is the most cost-effective greenhouse gas emission reduction opportunity of any sector in the economy. Better efficiency reduces the impact of growing power demand on our electricity network and on power prices. Improving a building’s energy efficiency also makes good economic sense for the building owner. Building upgrades can also boost local jobs and business opportunities for efficiency products and services.

Will an EUA Benefit My Property In Other Ways?

Yes. EUAs will enable building owners to finance upgrades that will improve environmental outcomes, lower operational costs and improve the capital value of their buildings on a case-by-case basis. For commercial buildings, you can typically expect to pay lower bills for energy consumption (shared benefit with your tenants), improve your cash flow as a result and see a benefit in the value of your property. In addition, works done to increase your NABERS rating has been shown to have a positive effect in faster letting of the building and an increase in rent. 

When Vic legislation comes in to allow EUAs for Residential Property/Homes, you can expect reduced energy bills, an increase in the value of your home and, should you sell, a faster sale time.

Contact us

You probably have a heap of questions - we can help you answer them and get your project up and running quicker than you could imagine.