New Zealand Government Considers Ratepayers Assistance Scheme for Solar Power Financing
The New Zealand Government is exploring a Ratepayers Assistance Scheme requiring $6-7 million investment for initial setup and a potential $150 million standby loan to help homeowners manage rising rates and electricity costs. Total lending could reach $5 billion over 15 years, with cheaper borrowing terms than banks. The scheme aims to allow ratepayers to defer payments, potentially benefiting retirees and enabling investments in solar power. However, the government's capacity to legislate for the scheme before the election remains uncertain amid competing priorities.
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The New Zealand Government is considering a Ratepayers Assistance Scheme to enable homeowners to defer rates payments, requiring an initial investment of $6-7 million and a standby loan of approximately $150 million. Total lending could reach $5 billion in 15 years, aimed at providing cheaper borrowing than banks.
The scheme would help manage rising rates and electricity costs, particularly benefiting retirees. However, officials have indicated that the government's current legislative priorities may delay the implementation. The scheme may also facilitate property improvement loans for solar energy solutions, with proponents highlighting potential annual savings for households.
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