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Heat pump subsidy scrapped

EECA has quietly done away with the $500 subsidy for heat pumps that was part of the Warm Up NZ scheme.

Wednesday, September 12th 2012, 12:00AM

by The Landlord

Chief executive Mike Underhill said the priority for the next 12 months was to insulate as many homes as possible.

Latest Warm Up New Zealand: Heat Smart figures released today show 180,000 homes have been insulated to the end of August, including 7088 homes insulated in August alone.  The scheme offers a 33% subsidy, up to $1300, on the cost of insulation - or 60% if the tenant or home owner has a Community Services Card.

 Underhill said service providers were likely to use up their heating subsidy allocation by the end of September. After that, there would be no further subsidy available.

He said:  “EECA has funded nearly 40,000 efficient heaters - heat pumps, wood and pellet burners, and gas heaters - since the programme began in July 2009. As the biggest benefits from the programme come from insulating houses, the majority of the remaining funding allocation is being focused on insulation grants from now on. Focusing on insulation represents the best use of government funding, and the biggest benefit for the homeowners.”

Funding would still be available for replacing inefficient wood burners or open fires in areas of poor air quality (Clean Air Grants).

 

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AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 4.49 4.49 4.79
ANZ 5.69 5.09 5.09 5.39
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.49 4.49 4.79
ASB Bank 5.79 4.49 4.49 4.79
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Avanti Finance - Near Prime 6.35 - - -
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BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.49 4.49 4.79
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans ▼3.95 - - -
CFML Home Loans ▼6.05 - - -
CFML Prime Loans ▼6.25 - - -
CFML Standard Loans ▼6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Lender Flt 1yr 2yr 3yr
Co-operative Bank - First Home Special - 4.35 - -
Co-operative Bank - Owner Occ 4.99 4.45 4.49 4.79
Co-operative Bank - Standard 4.99 4.95 4.99 5.29
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.79 4.95 -
First Credit Union Standard 6.49 5.39 5.55 -
Heartland Bank - Online 5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 5.39 4.25 4.59 4.79
Kainga Ora 6.29 4.75 4.75 4.99
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 5.65 5.39 5.39 5.65
Kiwibank - Offset 5.65 - - -
Kiwibank Special 6.15 4.49 4.49 4.85
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society ▼6.49 4.59 ▼4.59 -
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Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 5.09 5.09 5.39
SBS Bank Special - 4.49 4.49 4.79
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB 3.74 - - -
SBS FirstHome Combo 3.29 4.29 - -
SBS FirstHome Combo - - - -
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TSB Bank 6.59 5.19 5.29 5.59
TSB Special 5.79 4.39 4.49 4.79
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Median 6.05 4.67 4.85 4.85

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