Funding Your Business Energy Projects
Don’t let barriers to funding curb your energy ambitions. Explore the many financial solutions available to help fund your company’s next energy efficiency or carbon reduction project.
An energy solutions expert can guide you on funding options available for your business. This advice may lead you to a more comprehensive solution comprising multiple funding tools to finance your project, such as combining a government grant with on-bill financing and then generating environmental certificates at the end of your project to further offset your costs.
At ERM Power, we use our expert market insights and deep knowledge of our customers’ data and commercial and sustainability goals to find the right mix of solutions to fund their energy projects. Below are some of the financial schemes available.
It may be possible to turn your planned energy expenses into operating costs through on-bill financing1. With no upfront purchasing costs, for example, of solar equipment, batteries or equipment upgrades, you can deliver your energy plans now and pay the set up and ongoing costs over time.
Once approved by the lender, repayments appear on your existing electricity bill so you can make and track payments easily. This passed through charge is known as on-bill financing.
At ERM Power, we can advise you on on-bill financing options and take care of your application process.
You may be able to fund part of your next carbon reduction or energy efficiency project through a government grant. At ERM Power, it’s our business to know the available government energy grants and funding schemes and we can advise you on the right options for your business.
We support many of our customers by managing the funding application on their behalf. Contact us to find out how we can help you.
To find out more about government grants and funding schemes visit the Australian Government’s Department of Industry, Science, Energy and Resources site.
Environmental Certificate Schemes
Environmental certificates issued for projects that result in energy savings or emissions reduction could help your business achieve its energy and commercial goals. The federal and state environmental certification schemes are designed to reward successful and measurable energy abatement or emissions reduction projects.
To be eligible under these schemes, the energy savings or emissions reduction from your project must go through a complex measurement and verification process which is subject to independent audit. It’s important to engage energy experts early to navigate this process as your energy baseline must be measured before you kickstart your project.
ERM Power is accredited to create environmental certificates under the Australian, NSW and Victorian government schemes, and our energy engineers are trained in world’s best practice energy measurement and verification methodology (International Performance Measurement and Verification Protocol or IPMVP).
As your trusted energy advisor, we can also provide you with insights and advice on each of the certificate markets and on how to maximise value across the different schemes.
Small-scale Technology Certificates
If you invest in a small-scale renewable energy system, you may be eligible to recover some of the cost through small-scale technology certificates (STCs).
Small-scale systems include solar panels, solar water heaters, small-scale wind and hydro systems, and air source heat pumps.
STCs are provided up front for the renewable energy you expect to produce, from the year you install your system, until the scheme ends in 2030. STCs have financial value and can be used to reduce the cost of your project.
Let ERM Power help you with your renewable energy projects and we will then generate your small-scale technology certificates to help you recover some of your costs.
Large-scale Generation Certificates
Larger renewable energy projects can create large-scale generation certificates (LGCs).
Like STCs, LGCs have financial value and can be used to reduce project costs. They can also be surrendered to help companies meet their emissions reduction commitments.
Large-scale renewable energy systems include large commercial solar photovoltaic and wind systems above 100 kilowatts, or those which generate over 250 megawatt hours each year.
To create an LGC, your system must be an accredited power station. At ERM Power, we can work with you to plan and deliver large-scale solar systems, help you get your power station accredited and generate large-scale generation certificates on your behalf. Or we can simply assist you to get your power station accredited with the Clean Energy Regulator.
To become accredited, your sites must have accurate, compliant energy metering. We can help you to design and install your energy metering so that you meet the Clean Energy Regulator’s requirements.
If you are interested in insights into your solar project, then ERM Power’s sophisticated Solar Energy Management Centre (EMC) can help. It allows you to assess the performance of your solar system, track project cost savings and emissions savings, and plan for maintenance on your system to ensure optimal performance.
Find out how we can help
Don’t let funding or financial hurdles get in the way of your planned energy efficiency projects or your journey to decarbonisation. Contact Nick Jones on (02) 8243 9117 to find out how we can help you access the funds you need for your next energy project.
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1 On-bill financing is only available while you remain an ERM Power retail energy customer. If you are no longer an ERM Power retail energy customer, you must make arrangements to pay the credit provider directly. Under the on-bill financing option, ERM Power Retail Pty Ltd will be the service provider and Macquarie Equipment Rentals Pty Limited ABN 44 112 079 268 will be the credit provider. Parties should obtain their own legal, financial and tax advice before entering into any financial transaction. All applications to Macquarie Equipment Rentals are subject to lending approval criteria, and terms and conditions apply.