Solar Water Heating Installations

SWH Loan Update - March 2007 

In mid-2006 we heard from the Energy Efficiency and Conservation Authority (EECA) that they had chosen Prometheus as their preferred provider for their solar water heating finance assistance programme for 2006/07. 

The scheme has the potential to finance up to 1,700 solar panel installations over the full 12 months depending on demand. Under this program we had, by early March 2007, advanced nearly $2.5 million in solar water heating loans, helping to finance just under 600 SWH installations so far.

In addition, we had pre-approved a further $1 million in loans which will be advanced once the systems are installed. We are very much on track to reach our projected target of around $5 million in loans for solar water heating (or around 1100 installations) over the course of the current scheme, which ends in June this year.

EECA has launched an updated website to provide information to householders, the building industry and the solar water heating industry (www.solarsmarter.org.nz).

The section of the website devoted to information for consumers gives a good general introduction to the range of options and choices householders will face when considering what system to purchase and what questions they should be asking installers before making a final decision.