A range of Australian Government and state and territory government programs exist to help companies access finance for energy efficiency improvement projects.
Options are extensive. Funding can be used on relatively simple upgrades such as lighting, through to more complex major technology improvements or equipment upgrades.
Below is a brief summary of what’s available and links to relevant websites. Your industry association can also be a good starting point when looking for finance, as it can provide information specific to your sector.
Whichever option you choose, it is worth conducting an energy assessment prior to considering finance options: this will help you determine where gains may be made. It will also help your company develop the business case that usually supports any funding applications. Remember, when you do conduct an assessment, it’s worth knowing that some established energy services companies will not only recommend cost-effective improvements, but guarantee the savings will cover all project costs.
Australian Government financing options
The Clean Energy Finance Corp (CEFC) is an Australian Government statutory authority formed to 'facilitate increased flows of finance into the clean energy sector'. It runs a range of programs targeting clean energy and energy efficiency improvements for small businesses, manufacturers and the agricultural sector, as well as small-scale commercial property. It also partners with external organisations to provide access to funding via co-financing.
CEFC programs include:
- Macquarie Leasing asset finance program
- ANZ Asset Energy Efficient Asset Finance program
- NAB Energy Efficient Bonus Program
- Westpac Energy Efficient Financing Program
- Commonwealth Bank Energy Efficient Equipment Finance program
- Eclipx fleet vehicle finance
- Ratesetter clean energy assets finance
- Metro Finance Metro Green low emissions vehicle finance
State-based financing options
New South Wales
NSW Office of Environment and Heritage has tailored programs, management tools, training services and finance options for businesses working to reduce energy consumption, overheads and costs. The Environmental Upgrade Agreement program is very popular with businesses in New South Wales - it allows for the use of private finance to upgrade non-strata commercial buildings.
The South Australian Government has a range of options to assist businesses to cut costs and boost productivity by saving energy and materials or improving the energy efficiency of buildings.
Sustainability Victoria has a range of options to assist businesses to cut costs and boost productivity by saving energy and materials, reducing and better managing waste, or improving the energy efficiency of buildings.