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Household Energy Upgrades Fund

The $1 billion CEFC Household Energy Upgrades Fund will work with established co-financiers to provide discounted consumer finance to fast track sustainability improvements in existing homes.

Energy efficiency upgrades and battery-ready solar PV are among projects that will be eligible for finance.

As with our asset finance programs, the CEFC will work with co-financiers to reach their customers, with the benefits of the CEFC finance flowing through to borrowers. We expect to announce HEUF-related investments with co-financiers in 2024.

The CEFC does not provide discounted consumer loans directly to consumers. This will be the role of our co-financiers. The CEFC does not assess individual finance applications and does not provide grants.

About the Household Energy Upgrades Fund

Green consumer loans and related finance products are an emerging area of finance in the Australian market, and have not yet achieved scale. The Household Energy Upgrades Fund aims to help establish market interest in these products, and increase diversity of products, addressing enhanced home energy performance for existing homes.

Products co-financed through the HEUF may include:

  • Green home loans: Home loans where the dwellings are renovated or retrofitted to a significantly higher energy performance, through incorporation of clean energy and energy efficient technologies, and support the adoption of credible home energy assessments for green home loans eligibility.  
  • Green personal loans: Personal loans that are used to finance home energy improvements and support the adoption of clean energy technologies.  
  • Innovative concessional financial offerings: Innovative home energy financing products which can unlock energy efficiency upgrades and clean energy technologies uptake. Innovative approaches are sought in areas that have historically been challenging to reach such renters and strata properties will be considered.

The CEFC is working with financiers on its Household Energy Upgrades Fund. Financiers wishing to reach out to our Household Energy Upgrades Fund team are asked to submit their details.

See the disclaimer

Financier contact details

Homes and net zero emissions

Australian households can make a substantial contribution to our transition to net zero emissions by lowering their carbon footprint. According to the ClimateWorks Centre Renovation Pathways report:

  • Australia’s existing 11 million homes are responsible for more than 10 per cent of total emissions and more than 25 per cent of electricity consumption
  • An additional 5.5 million homes are expected to be built before 2050  
  • Most existing Australian homes were built before construction standards with stronger sustainability measures were introduced in the early 2000s
  • These homes are inefficient in terms of energy consumption and thermal comfort, meaning that many householders live in energy poverty and are vulnerable to extreme temperatures in their own homes. 

Additional modelling from the Reliable Affordable Clean Energy for 2030 Cooperative Research Centre found that a home retrofit scheme targeting improvement of just one million existing Australian homes across five years could: 

  • Reduce home energy use by up to 9,000 kWh per year per home 
  • Reduce home emissions by up to 5.8 tonnes of CO2-e per year per home 
  • Create an up to $55 billion private finance investment opportunity. 


Our record in Housing sustainability

Australia is targeting a 43 per cent fall in emissions by 2030, moving to net zero emissions by 2050, underpinned by an 82 per cent renewable energy grid by 2030.

This means Australia needs to decarbonise at an average annual rate of 17 Mt CO2-e, which is 40 per cent faster than it has done since 2009. It is a task that requires action right across our economy – and it will deliver substantial new investment, enhanced energy productivity and lower energy consumption.

Best practice energy performance initiatives give property owners and managers the opportunity to unlock substantial energy savings, reduce emissions and potentially improve liveability for residents.

When it comes to our built environment, the CEFC has a strong record of investing in a diverse range of cleaner, greener residential options.  

CEFC Green Home loan products, delivered through co-financiers, offer customers discounted finance for measures that will reduce their carbon footprint and lift the energy performance of their homes.

We have also invested in community housing, build-to-rent and masterplanned communities, seniors living and student accommodation. 

See our case studies.

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The CEFC does not provide finance directly to consumers. Under the HEUF, the CEFC:

  • will provide funding through co-financiers;
  • is not responsible for consumers’ loan applications and will not review or assess applications for finance;
  • is not responsible for making determinations as to successful consumer loan applicants;
  • does not encourage, promote or endorse products or associated companies for installation of products;
  • recommends that the consumers complete their own due diligence and research to ensure that products suit their needs;
  • recommends that the consumers consult directly with the HEUF delivery organisation in respect to products and labour;
  • is not responsible for products or labour selected that are not fit for purpose, do not suit the consumer’s needs or are faulty; and
  • is not responsible for any incidents, accidents or injuries arising from products or labour associated with the installation of products.
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