The Sustainable Finance for Energy Solutions scheme assists Victorian businesses take up an Energy Performance Contract. An Energy Performance Contract is where a service provider installs energy-efficient equipment for a business and guarantees a return on investment. The business pays it back over time. The service provider may pay for the installation of equipment.
How it works:
- Find an energy service company (ESCO). A good place to start is the Energy Efficiency Council’s list of providers.
- The energy company gets funding from a bank or financier, who pays for your energy efficiency upgrade.
- Make monthly payments to the energy company or the financier.
- If you don’t get the savings you were expecting, the energy company will pay the shortfall.
- At the end of the agreement, you’ll own the equipment.
It’s advised to always seek advice from your accountant.
To be eligible for assistance, your business should be:
- a large business with high-energy use (the service provider installs equipment of more than $500,000 in value)
- the owner or a long term tenant of the premises.
Check your eligibility at the Victorian Government website and find a service provider.