Grants & Funds

Renewable Energy Australia are experts in available grants for businesses as well as grants available for manufacturers under the Clean Technology Investment Program which maximize returns on investment.

Victorian Energy Efficient Target (VEET)

In May 2012 the Essential Service Commission (ESC) introduced commercial lighting upgrades for the creation of Victorian Energy Efficiency Certificates (VEEC’s). These credits are a commodity and are tradable like shares. Like other commodities the VEEC price is not fixed and fluctuates with supply and demand. The program was first introduced in 2009 for the residential sector.

Under the Victorian Energy Efficiency Target (VEET) this means there is a financial incentive for owners or tenants of a commercial premises to retrofit their premises to include energy efficient lighting and reduce their energy consumption. The bigger the greenhouse reduction, the bigger the potential saving.

Clean Technology Investment Program (CTIP)

On the 16th of February 2012 the Minister for Industry and Innovation announced the launch of the Clean Technology Investment Program.

The Clean Technology Investment Program is a 800 million dollar competitive merit based grants program to support Australian Manufacturers to maintain competiveness in a carbon constrained economy. This Program will provide grants for investment in energy efficient capital equipment and low emission technologies, processes and products.

Renewable Energy Certificates (REC’s)

When you install solar power, solar water heating and other renewable energy technologies you are helping to reduce greenhouse gas emissions. This entitles you to receive environmental credits called Renewable Energy Certificates (RECs)

These credits are a commodity and are tradable like shares. Like other commodities the REC price is not fixed and fluctuates with supply and demand.

Organisations in Australia such as power and gas companies (liable parties) must purchase specified quota of certificates, on a quarterly basis in order to meet their own renewable energy targets set by the government. This creates the demand for the certificates and Australian residents and business provide the supply of certificates after they install renewable energy technologies.

Greenbank Environmental is the largest independent creator of these certificates in Australia, purchasing certificates from consumers and selling them to organisations that have a government mandate to acquire them.

RECs are made up of two types of certificates – Small-scale Technology Certificates (STCs) and Large-scale Generation Certificates (LGCs)

Energy Saving Scheme (ESC) N.S.W

The energy saving scheme is similar to the Victorian Energy Efficiency Target Scheme. The focus is reducing energy consumption and greenhouse gases by offering financial incentives for the implementation of energy saving projects.

The Energy Saving Scheme is established under NSW legislation and its objective is to offer financial incentives for households, owners or tenants of a commercial premises to retrofit their premises to include energy efficient lighting and reduce their energy consumption. The bigger the greenhouse reduction, the bigger the potential saving..

When Businesses invest in energy saving projects, energy saving certificates (ESC’s) are created by the voluntary scheme participants that have helped to implement those energy savings activities. Electricity retailers, who are mandatory scheme participants, then buy the energy savings certificates to meet their own legislated targets, as required by the law.

Energy savings certificates are the ‘currency’ of the scheme. The Energy Savings Scheme is not a rebate schemes.