Community Energy Revolving Fund

In 2019, the Federal Government awarded a grant of $90,000 to Healesville CoRE to be used to install solar panel systems on three community buildings in Healesville. Over 2021 and 2022, Healesville CoRE, with the assistance of Yarra Ranges Council, duly installed three systems on the Robyn Jane Children’s Centre, the Healesville Living and Learning Centre, and St Brigid’s Primary School. But rather than just pay for these systems and walk away, Healesville CoRE set up a revolving fund. Under this arrangement, the funding of each system was treated as an interest-free loan where the end client repays the loan to Healesville CoRE using the savings made on their power bills. Once the loan is repaid, they have ownership of the system and get the full benefits of the solar system from then on. This arrangement allows Healesville CoRE to recover the money to re-use on other, similar installations. Hence, the Revolving Fund.

Although the long-term benefits of renewable energy clearly outweigh the upfront cost, often not-for-profit community organisations simply do not have the upfront capital to fund the installation of solar and energy efficiency upgrades. In 2019, Healesville Community Renewable Energy (HCoRE) received a $90,000 Federal Government grant to install solar panels on three local not-for-profit groups. For the next two years we worked on the project, developing ideas and plans, collaborating closely with Yarra Ranges Council, sourcing finance, developing contracts, until finally in March 2021, with much excitement, the first panels were placed on the Robyn Jane Children’s Centre. The next not-for-profit group to benefit was Healesville Living & Learning Centre, and finally in June 2022 a 39kw solar system was installed on St Brigid’s Primary School.

HCoRE was quite creative in structuring the finance – instead of just putting solar on the three buildings, we established a Community Energy Revolving Fund to develop and offer an interest-free loan. This means that the three groups will repay the funds over 7-8 years from the estimated savings on their electricity bill, and at the end of the pay-back period, they will enjoy another 20 to 25 years of free solar electricity. As the interest-free funds are repaid from these savings, HCoRE will then reallocate the funds to another community solar energy project, so that the funds keep recycling within the community for a longer period.

Since then, Healesville CoRE has worked with our local community radio station Yarra Valley FM, to assist them with a solar installation on their building. They too are now enjoying significantly lower power bills. The next community group to benefit was the Healesville Lion’s Club. The Community Energy Revolving Fund is proving to be a very successful program. It is not limited to Healesville, so if you are aware of a community group in the Yarra Ranges Council who could benefit, please get in touch with us at contact@healesvillecore.org.au 

The Community Energy Revolving Fund builds community energy resilience and helps local organisations to cut power bills and reduce carbon emissions.

Current Projects

Past Projects

The Future…