As energy costs and sustainability pressures grow, large Commercial & Industrial (C&I) electricity consumers in Australia are increasingly adopting energy efficiency strategies. Government-backed programs offer financial incentives and rebates that help offset the cost of these upgrades. Below are key initiatives that C&I consumers can take advantage of in 2024 to optimize energy use and lower operational costs.
1. Energy Savings Scheme (ESS) – New South Wales
The Energy Savings Scheme (ESS) provides financial incentives for large businesses in NSW that invest in energy-efficient technologies and processes. C&I consumers can earn Energy Savings Certificates (ESCs) by implementing qualifying projects, which can be sold to obligated energy retailers, providing a return on investment.
Eligible upgrades under the ESS include:
- Lighting system upgrades (e.g., LED retrofits)
- HVAC improvements
- Process optimization in industrial facilities
How to Take Advantage: Large businesses can work with accredited certificate providers (ACPs) who help implement and verify energy-saving projects. The resulting ESCs can then be traded, offering financial benefits while lowering energy consumption. To participate, businesses must register their project and comply with ESS regulations for measurement and verification of savings.
For more details, visit NSW Energy Savings Scheme.
2. Victorian Energy Upgrades (VEU) Program
The VEU Program offers large C&I consumers in Victoria rebates for energy-saving projects. Businesses earn Victorian Energy Efficiency Certificates (VEECs) by reducing energy usage through qualifying upgrades. These certificates can be sold to energy retailers, helping to offset the cost of the improvements.
Eligible upgrades include:
- High-efficiency lighting (LED upgrades)
- Industrial refrigeration improvements
- Efficient HVAC systems
- Building insulation improvements
How to Take Advantage: Businesses can engage an accredited VEU provider to assess their facility and carry out energy-efficient upgrades. Upon completion, VEECs are generated based on the verified energy savings. These certificates can be sold, generating financial returns for the business while lowering operational costs.
More information can be found at Victorian Energy Upgrades Program.
3. Incentives for Commercial Solar and Battery Storage (NSW)
Starting in November 2024, NSW businesses will have access to new incentives for commercial solar and battery storage systems. These incentives encourage large businesses to integrate battery storage with solar PV installations, allowing for energy storage and consumption optimization during peak demand periods.
Key Benefits:
- Reduced reliance on grid electricity during peak times
- Ability to store excess solar energy for later use
- Lower electricity costs and improved energy independence
How to Take Advantage: Businesses must work with accredited suppliers to install battery storage systems. Those with existing solar PV systems can apply for rebates to cover the cost of battery integration. Additionally, businesses that connect to a Virtual Power Plant (VPP) will receive further incentives to store and trade excess electricity.
More details are available at NSW Solar and Battery Incentives.
4. Federal Government Energy Efficiency Support
The Australian government offers support through programs like the Federal Energy Bill Relief and other schemes aimed at reducing energy consumption in large C&I facilities. Financial support is available for infrastructure upgrades that increase energy efficiency, such as upgrading industrial machinery or enhancing building insulation.
Eligible upgrades include:
- High-efficiency motors and drives for industrial use
- Energy-efficient heating and cooling systems
- Building insulation and energy management systems
How to Take Advantage: Large C&I consumers can apply for funding through government support schemes by demonstrating how the proposed upgrades will improve energy efficiency. These programs typically require businesses to meet specific energy-saving targets and provide detailed plans on how the improvements will be implemented.
Visit Energy.gov.au for more information on federal energy efficiency incentives.
Why Energy Efficiency Matters for Large C&I Consumers
For large C&I consumers, energy efficiency improvements are a strategic investment that can yield multiple benefits, including:
- Lower Energy Costs: Reducing energy consumption leads to direct savings on electricity bills.
- Sustainability: Meeting corporate sustainability goals by lowering carbon emissions and improving environmental impact.
- Operational Efficiency: Modernizing equipment and processes can enhance productivity and reduce maintenance costs.
To learn more about how your business can benefit from these energy efficiency programs, contact Austech Power & Gas today for personalized advice on optimizing your energy usage and taking advantage of available incentives.