CORENA Has Money to Lend for Climate Action

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Courtesy of the Citizens Own Renewable Energy Network Australia.

Citizens Own Renewable Energy Network Australia (CORENA) is calling for community organisations to apply for an interest-free loan to fund climate action projects at their premises. Additionally, a donation-matching offer will ensure that all tax-deductible donations to expand CORENA’s climate reach will be matched by an equal donation amount.

CORENA has money to lend
CORENA — Walpole Community Resource Centre with rooftop solar power.

CORENA operates Australia’s longest running donor-driven revolving fund for practical climate action. The fund offers interest-free loans to not-for-profit, community, and social-enterprise organisations to pay for projects that reduce carbon emissions. Citizens who want to reduce emissions make donations via the CORENA website to collectively crowdfund the loans for these projects. These donations are then returned to the fund in the form of loan repayments, and these funds, plus additional donations, are then used again to fund future projects.

CORENA has provided $892,000 in interest-free loans to fund 44 separate climate projects. CORENA’s 45th project — and first-ever electric vehicle (EV) project — has funding allocated for two Ford e-Transit delivery vans plus Zappi solar chargers, which will be delivered once these vans are launched in Australia in coming months. Other applications for interest-free loans are currently being assessed by the CORENA team.

To date, CORENA’s completed projects have avoided 3,089 MWh of grid electricity, which equates to 223 average households having switched to using 100% renewable energy instead of grid electricity.

CORENA was totally run by dedicated volunteers for their first 8 years of operation. Now in their 9th year, CORENA has received generous temporary funding by philanthropic group, the Keuneman Foundation, to employ part-time staff in order to obtain a pipeline of future projects for CORENA to fund. CORENA offers interest-free loans to not-for-profit, community, and social-enterprise organisations for the following: solar installations; energy efficiency upgrades; replacing gas appliances (including water and space heating) with energy efficient electric alternatives; purchasing electric vehicles (EVs).

CORENA has just launched a very exciting donation-matching tax appeal. Anyone who makes a tax-deductible donation to CORENA’s operational fund by 30 June 2022 will have their donation matched dollar-for-dollar (up to a total of $15,000) by a generous long-term supporter who will make an equal donation on your behalf. In effect, your donation is DOUBLED!

It’s hoped that up to $30,000 can be raised over the coming weeks and this money will be used to reach even more climate projects for CORENA to fund! Tax-deductible donations can be made here.

Technical advice and assistance can be provided. See the CORENA website for full details.

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David Waterworth

David Waterworth is a retired teacher who divides his time between looking after his grandchildren and trying to make sure they have a planet to live on. He is long on Tesla [NASDAQ:TSLA].

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