01 Performance FIRSTMAC

CEFC ANNUAL REPORT / 2014–15

Firstmac

An asset finance agreement of up to $50 million between the CEFC and Firstmac, a leading Australian non-bank lender, will help accelerate business and personal adoption of low emissions and electric vehicles, as well as solar and energy efficient equipment.

Project Scope

The CEFC/Firstmac finance program will support the private and commercial purchase of a range of passenger vehicles which are included in the best performing quartile in the Australian Government’s Green Vehicle Guide, which categorises vehicles in terms of their CO2 savings, fuel consumption and overall pollution rating.

It will also finance vehicles that achieve emissions of 20 per cent less than the most recent average carbon emission figure as published by the National Transport Commission.

The asset finance program includes commercial vehicles and materials handling, such as courier and light delivery vans, garbage trucks, forklifts and vehicles used in warehouses and logistics.

The finance will help increase the commercial uptake and broaden the financing options for residential rooftop solar PV and inverters. Leasing for solar thermal, including for hot water, and for batteries that form part of a solar installation, is also eligible.

Looking to the future

Australians buy more than 1.1 million new vehicles a year, with some 80 per cent of these purchased through consumer or business loans and leases.

This program is designed to accelerate uptake of low emissions and electric vehicles purchases by business and government fleet managers.

While sales of hybrids and electric vehicles remain a small component of the overall sales figures, private buyers are leading the conversion to lower emissions vehicles, where there is an increasing range of available models.

This is great news for anyone who wants to drive a new-generation low emission vehicle, or save on energy costs by installing solar. Firstmac is very pleased to be working with CEFC to deliver this initiative which will save customers money and result in reduced carbon emissions.” Firstmac Managing Director, Kim Cannon