The federal government-backed Clean Energy Finance Corporation (CEFC) is investing up to $40 million in household renewable energy fintech Brighte.
The investment will share 2% off the cost of loans for home energy efficiency improvements, including solar and battery systems, energy-efficient heating and cooling, insulation, and EV chargers, with Brighte launching a new discounted green loan product for amounts between $2,000 and $55,000, at 6.99%, with repayments over 2 to 10 years.
The CEFC investment comes via the federal government’s Household Energy Upgrades Fund (HEUF), supporting up to $150 million of consumer energy resources (CER) nationally.
Brighte founder and CEO Katherine McConnell said the deal was defining milestone for the decade-old fintech, which is backed by Atlassian’s Mike Cannon-Brookes through his family fund, Grok Ventures.
“With CEFC support under the HEUF, we’re helping more Australian families cut their energy bills, improve comfort, and play a central role in shaping Australia’s clean energy future,” she said.
“Our vendor partners are at the frontline of Australia’s energy transition.”
The funding announcement comes after the federal government announced the Solar Sharer scheme, which forces energy retailers to offer electricity plans that include at least three free hours of power around noon, daily, when the underlying price of electricity is often zero or negative.
The government is hoping incentives to use more energy around midday will also make the grid cheaper to maintain, with the power used for tasks like water heating, air-conditioning, EV charging and pools, thus reducing evening peak demand.
The scheme requires smart meters, which all homes are expected to have by 2030. It will be introduced in NSW, South-East Queensland and South Australia from July 2026 before expanding to other states the following year.
Meanwhile, the federal government’s $2.3 billion Cheaper Home Batteries subsidy, which shaves up to 30% off the cost, has already been taken up by more than 100,000 households in just four months.
Brighte has already provided more than $2 billion in “green loans” to 200,000-plus Australian households. McConnell, a former Macquarie banker, founded her fintech in 2015, and counts Airtree, Skip Capital and the Milgrom Family, among its investors.
The CEFC-backed discounted green loan is expected to launch in November 2025,
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