Funding round opens to assist SMEs upgrade to energy-efficient equipment

In a bid to support small and medium enterprises (SMEs) in their efforts to reduce energy consumption and costs, the government has announced the Energy Efficiency Grants for Small and Medium Enterprises Round 2. With a total funding pool of $41.241 million, eligible businesses can receive grants of up to $25,000 to invest in energy-efficient equipment.

Due to the high demand related to this initiative, the application process will be staggered across states. The applications for the NSW funding have opened today.

Funding Details:

• Grant Amount: Up to $25,000 per eligible business.
• Total Funding Pool: $41.241 million.
• Coverage: Grants can cover up to 100% of eligible expenditure.
• Distribution: Funds will be distributed among states and territories based on the distribution of small and medium-sized businesses nationally.

Eligibility:

• Business Size: Small and medium-sized businesses with 1 to 199 employees.
• Project Focus: Upgrading or replacing inefficient equipment to improve energy efficiency.
• Objectives:
  • Improve energy efficiency practices and technology uptake.
  • Assist businesses in managing energy usage and costs.
  • Reduce greenhouse gas emissions.
• Intended Outcomes:
  • Increased awareness of energy efficiency opportunities.
  • Reduced power bills for small and medium businesses.
  • Contribution to Australia's emission reduction target (43% below 2005 levels by 2030).

Application Criteria:

• Eligibility Criteria: Businesses must meet specific rules outlined in the grant opportunity guidelines.
• Previous Funding: Businesses cannot receive funding if they received grants in Round 1.
• Project Completion: Projects must be completed by March 31, 2025, with a maximum duration of 12 months.
• Project Requirements:
  • Aimed at reducing the energy consumption of the business in Australia.
  • Must have at least $10,000 in eligible expenditure.
  • Limited to activities listed in Appendix B of the grant opportunity guidelines.
  • Entirely located within the applying state or territory.

Application Process:

• Interested businesses need to review the grant opportunity guidelines for detailed eligibility criteria and application instructions.
• Applications will be considered on a first-come, first-served basis until funding is exhausted in each jurisdiction.
• Businesses can only receive one grant per applicant (based on their ABN).

To apply, interested businesses should carefully review the eligibility criteria and guidelines provided and ensure that their projects align with the specified objectives and requirements.

For more information, go to the business.gov.au website here.