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Financing options

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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.

NSW Office of Environment and Heritage (OEH) incentives for energy audits

The OEH Energy Saver Program is the NSW Governments energy efficiency initiative that subsidises the cost of an Energy Audit that is carried out by an appropriately qualified auditor. Any company in New South Wales that do not report under the federal EEO scheme (Energy Efficiency Opportunities Program) is eligible for this program.

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.

Federal Government Clean Energy Finance Corporation (CEFC)

The CEFC co-finances and invests in clean energy projects. It considers proposals for investment-ready renewable energy technology, low emissions technology and energy efficiency projects. CEFC focuses on projects and technologies at the later stages of development which have a positive expected rate of return and have the capacity to service and repay capital. Some earlier stage projects may be considered if they have significant support and an appropriate risk profile.

With highly-developed expertise in energy and emissions reductions, Minus40 can design projects that are very attractive for CEFC financing. Multiple client projects have already been financed this way, including Nightingale, Kilcoy, Rivalea, Crafty Chef and Radevski.

For further details, visit the CEFC website.

OEH Energy Saver Program (New South Wales only)

Energy Savings Scheme (New South Wales only)

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.

Clean Energy Finance Corporation (CEFC)

The CEFC considers renewable energy, low-emissions technologies and energy efficiency projects, facilitating finance via co-financiers. It focuses on projects and technologies at the later stages of development which have are expected to have a positive rate of return.

CEFC also considers early-stage projects that have strong support and a low risk profile. For further details, visit the CEFC website.