Objectives
To provide interest free loans to public sector organisations, to help accelerate the transition away from fossil fuels to low-emissions alternatives such as biomass and electricity, and demonstrate the Government’s leadership on climate change.
Eligibility
- Government ministries, departments, district hospitals, Crown owned companies, regional councils, Territorial authorities, public and integrated schools, and tertiary education institutes.
What kind of projects is it for?
Public sector organisations can use Crown loans to fully or partially fund energy efficient equipment, including electric vehicles.
Eligible projects include energy-efficient equipment for new builds, retro-fits, and electric vehicles. For example:
- Installing building management systems.
- Installing and upgrading equipment such as energy efficient space heating, refrigeration, and lighting.
- Installing commercial heat pumps and biomass boilers.
- Installing solar water heating for swimming pools.
- Purchasing electric vehicles (the price difference between an electric and a conventional vehicle and the cost of installing a charging point).
Crown loans are interest free. There’s a one-off flat rate procurement fee of $500 for loans up to $50,000 and 1% for loans of more than $50,000. This is to cover EECA’s establishment and loan administration costs.
New technology increases control and brings healthy savings
Replacing two hospitals' old diesel boilers with electric heat pumps has saved Northland DHB hundreds of thousands of dollars on energy costs and maintenance a year, partly by putting heat only where it was needed. The programme got off the ground with a Crown loan.