The CORENA Fund provides interest-free loans to help fund climate projects anywhere in Australia in cases where the up-front capital cost is a barrier. We also offer independent technical advice to overcome knowledge barriers to implementing cost-effective climate projects.
We welcome project loan applications from non-profits, community organisations and social enterprises. We will also consider businesses with a social or environmental purpose. If the applicant is a religious organisation, the project must be for non-proselytising activities that provide tangible benefits to the general public.
Examples of projects eligible for CORENA loans
– solar installations
– replacing gas hot water with efficient electric alternatives (eg. heat pumps)
– replacing inefficient air conditioning and gas space heating systems with reverse cycle air conditioners
– induction cooktops
– lighting retrofits
– electric vehicles
– energy audits
– other cost-effective energy efficiency measures
– a combined package of two or more of the above.
To apply for a project loan, please fill in and submit the online Expression of Interest form. Or, you can download the Expression of Interest form and fill it in offline.
Note that we favour projects that represent cost-effective climate benefit and that ‘pay for themselves’ in a reasonable time (with your loan repayments to us covered by your savings on bills).
Want to find out more?
Request more information to learn how to reduce your carbon emissions & energy costs with a community-funded climate project:
Climate and budget benefits
From Day 1 your organisations will have much lower carbon emissions than before despite no hit to your budget.
The quarterly loan repayments are set to be a little less than the savings on your operating costs averaged over a year. This means you are never out of pocket and once your loan is fully repaid you reap the full financial benefit of having lower operating costs.
Solar installations and energy efficiency projects typically ‘pay for themselves’ in 3-7 years. For electric vehicles or projects for getting off fossil gas, the payback time will depend heavily on the project details.
Info sheet for project applicants
Click here to download an info sheet. You may wish to take this along to a meeting of your committee or use it to encourage a local organisation to consider a CORENA loan.
Typical project workflow
Click here to download the pdf at left showing the typical project workflow for a climate project.
From Jim Edwards, Clunes Old School Association, on completion of repaying their loan in October 2020:
In early 2018 our community centre in Clunes NSW decided to invest in a 5kw Photovoltaic system for it’s buildings. A 4 year no-interest loan was quickly organised through CORENA. These older buildings were for many years the local primary school, having educated many students from the 1880’s to 1996. The community centre currently houses 6 permanent & a number of casual tenants. We have outdoor stages for events such as weddings, music & parties. A BBQ, half basketball court, kids cycle track, natural playground & gardens compliment the venue which is well utilised by the village residents. Under normal sunny conditions the PV system supplies all the power for the community centre with any excess going to our energy retailer Enova Energy. We are more than happy to recommend CORENA to any non-profit organisation who may be interested in a renewable energy system.
From Vicki Hawker of Tastex Knitwear and Uniforms at completion of their solar loan repayments on 30/8/18
From Heather Walch, Ravenshoe Community Centre, Qld, 11/9/17. This, our 6th project, installed a 3.89kW solar system.
We would like to thank CORENA for the opportunity to have an interest free loan to purchase our solar system. As an NGO this has made it easy and affordable and has made our running costs go down for the Community Centre.
And from Sheryl Rasmussen, Centre Coordinator Ravenshoe Community Centre Inc on the occasion of completing payback of their CORENA solar loan:
Having the solar system has meant a reduction in electricity costs allowing more money to be spent on services and knowing that it reduces our carbon footprint is a great feeling.
From Jill Cochram, Moss Vale Community Garden, NSW, 16/9/17 about our 8th project installed in February 2016.
With regular visits to our community garden from workshop attendees, open day participants, farmers’ market customers and school groups, we take every opportunity to show off our 3.7kW solar energy system made possible by CORENA’s no-interest loan. Such a luxury to have a fridge, electric urn, lights, power tools and electric mower & whipper snipper powered by the sun after ten years without power on-site. Thankyou to all the team at CORENA for making this possible. It’s good to feel a part of the movement towards climate action.
8. Moss Vale
10. Parkholme LED
12. Yack Health
17. Albert L-T
18. Trish L-T
19. Coast FM transmitter
20. Apprenticeships Q
21. Mansfield Kindergarten
22. Frances L-T
23. Clunes Old School
24. Coast FM studio
25. Sonia L-T
30. Marlin Coast
32. Club Italia
33. Clunes Coronation
34. Woden Valley
35. Woonona Bulli
36. Coorabell Hall
38. Robert Menzies College
41. Geelong Bowls
43. Parkholme solar
44. CC Steiner School
45. Fair Food
47. Murray Mallee
49. Mary Knoll
First getting off gas project