Financing Options

There are several financial support programs currently available in Australia, including government grants, project finance and rebates assisting businesses to implement energy savings projects. Programs available to provide many types of support for various project stages:

  • grants for capital projects
  • finance for capital projects
  • subsidies for supporting services such as audits
  • implementation support
  • support for monitoring, validation and related services
  • rebates or incentives paid for energy savings achieved after implementation

Government finance assistance is provided in NSW and VIC, each having their own requirements. Some level of federal support is also available, as well as occasional support from local councils and other state governments. Please download a summary fact sheet of the grants available to you.

MINUS40 is part of the Energy Saver’s Auditor Panel of the OEH and has performed many energy audits under this scheme. They cover industrial and commercial refrigeration, process cooling and industrial air-conditioning sites.

Each audit is designed to define the most effective ways to improve energy efficiency, and to establish a priority for improvements. The auditor will:

  • investigate your past energy consumption to identify trends and anomalies
  • analyse your tariff and energy bill
  • break down your site’s energy use
  • identify multiple energy savings opportunities
  • calculate the energy cost and consumption savings, carbon emission savings, potential Energy Saving Certificates and a payback period for each of these projects
  • detail an implementation plan and a measurement and verification plan

For more information on how MINUS40 can assist you with an energy audit and the OEH Energy Saver Program please contact us.

NSW Energy Savings Certificates (ESC)

When a NSW business completes an energy saving project, it can apply for Energy Saving Certificates (ESC’s) under the Energy Savings Scheme. ESCs serve as a way to recapture some of the initial project investment, or can be used to finance future energy savings projects. The energy saving must be verified by an authorised auditor such as Minus40.

An ESC is awarded for every tonne of carbon dioxide that is saved from a project (1,000 kg of carbon carbon dioxide equivalent = 1.06 MWh).

Energy Saving Certificates are tradeable, meaning they can be sold and serve as a rebate for implementing energy saving solutions. The value of Energy Saving Certificates is determined by supply and demand.

Local Council Environmental Upgrade Agreements (EUAs)

Some larger councils provide access to finance to support environmental improvements for existing commercial, industrial, strata scheme and large multi-unit residential buildings. Participating councils include Melbourne, Sydney, Parramatta and Newcastle.

Details of the schemes vary, but generally council rates are reduced to offset the cost of finance. Tenants can sometimes be asked to contribute, provided the upgrade will reduce their energy costs.