How an $8-a-week idea from an Adelaide grandmother is helping community organisations across Australia cut both their emissions and their bills
Every big movement starts with someone asking a simple question. For Margaret Hender, the founder of Corena (Citizens Owned Renewable Energy Network Australia), that question was: “Great — where do I send my $8 a week?”
It’s a story we love to share, and last month, one of our dedicated committee members had the chance to share it again, this time with members of the Victorian Council of Social Service (VCOSS), during a special online presentation about Corena’s mission and the opportunities it provides for community organisations looking to reduce their carbon footprint.
We’re incredibly grateful to the VCOSS team for generously giving Corena the space and platform to share our work, and for allowing us to share the recording publicly so our wider community can benefit too.
🎥 Watch the full presentation here:
From a Report to a Revolving Fund
The presentation traced Corena’s story back to its origins in 2013, when Margaret and her friends read a report suggesting Australia could transition to 100% renewable energy within a decade, at a cost of just $8 per household per week. Inspired but frustrated that no organisation existed to channel everyday community donations directly into renewable projects, Margaret decided to build one herself.
More than a decade on, that idea has grown into a genuine movement. Corena now provides interest-free loans, funded entirely by community donations, to community organisations that want to install solar, upgrade to energy-efficient lighting, or improve their heating and cooling, but simply don’t have the capital or access to bank finance to make it happen.
Why It Works: The Bathtub, Explained
If you’ve never heard Corena’s “bathtub” analogy before, the VCOSS presentation is a great place to start. It’s the simplest way to understand how our revolving fund keeps working long after the first donation is made:
- Donations flow in, like water from a tap.
- Loans flow out to fund projects, as water poured into a jug.
- Repayments flow back in over time, refilling the bathtub.
Because loan repayments are always calculated to be no more than the energy bill savings generated by a project, organisations are never out of pocket while repaying. And once a loan is repaid, 100% of those ongoing savings stay with the organisation, money that can be redirected straight back into the services their community relies on.
Up to 20% of repayments cover Corena’s running costs. The rest, at least 80%, is recycled straight into the next project, and the next, and the next. It’s how a single donation can fund multiple projects over its lifetime.
The Numbers Tell the Story
Some of the milestones shared in the VCOSS presentation are worth celebrating:
- 62 projects funded over 13 years, across every Australian state and territory except the Northern Territory
- Over $1 million raised in donations from everyday community members
- Over $2 million in interest-free loans provided, double what’s been donated, thanks to the revolving fund
- An estimated $300,000 in annual energy bill savings now flowing back into community organisations, every single year
One project highlighted in the talk: a 99kW rooftop solar system, funded through a roughly $126,000 loan to be repaid over 5.6 years. That system avoids importing around 118,000 kWh of grid electricity annually, saving the organisation more than $23,000 a year, savings that, once the loan is repaid, are entirely theirs to reinvest in their mission.
An Invitation to VCOSS Members — and to You
The VCOSS presentation was not just a review of Corena’s achievements. It was an invitation. Community organisations across Victoria and Australia are encouraged to get in touch and express their interest in projects, whether it’s rooftop solar, LED upgrades, efficient heating and cooling, or other emissions-reduction initiatives.
And for the everyday donors reading this: every dollar you give doesn’t just fund one project. Through Corena’s revolving fund, it goes to work again and again, helping community organisations cut emissions, cut costs, and do more for the people they serve.
Curious whether a Corena loan could work for your organisation, or want to make a donation that keeps on giving? Get in touch with our team or explore our website to learn more.
Corena is seeking projects! If your community organisation, charity, or social enterprise is interested in Corena’s technical advice and zero-interest loans, drop in to one of our online information sessions to find out more and ask all your questions. Register here.
Corena is a registered charity providing interest-free loans to nonprofit organisations for renewable energy and energy efficiency projects, funded entirely by community donations. All donations of $2 or more are tax-deductible.