The Andrews Labor Government has entered into an agreement with the Sustainable Melbourne Fund to help businesses reduce their energy costs.
Minister for Energy, Environment and Climate Change Lily D’Ambrosio today visited Class Plastics to view its 1,460 solar panels, which will generate 365kW to power its manufacturing facility, through Environmental Upgrade Finance.
Manufacturer Class Plastics is set to save $100,000 a year on electricity bills after installing these solar panels.
The Environmental Upgrade Agreement (EUA) market in Victoria is growing, with 11 Councils already offering EUAs across Victoria, and 16 projects having received funding of over $14 million.
This Sustainability Victoria and Sustainable Melbourne Fund initiative is offered as part of the Boosting Business Productivity grants program.
As part of the program, an additional $630,000 has also been allocated in the 2017/18 Victorian Budget for new grants to improve business materials efficiency, cut waste to landfill, as well as reduce costs and greenhouse gas emissions.
Quotes attributable to Minister for Energy, Environment and Climate Change Lily D’Ambrosio
“We know that increasing energy costs are affecting Victorian businesses, and we are working closely with them to deliver more affordable, sustainable and reliable energy.”
“This Government backed initiative will give businesses greater accessibility to the financing which funds energy efficiency programs and reduces energy costs.”
Quotes attributable to Chief Executive Officer of Sustainable Melbourne Fund Scott Bocskay
“Victoria has some 460,000 small to medium-sized enterprises, each grappling with ways of finding capital to increase their energy productivity.”
“Through this collaboration, Sustainable Melbourne Fund looks forward to working with the Victorian Government to help these businesses make the investments required to reduce and manage their energy costs.”
“Whether your business is a farm or a manufacturer, Environmental Upgrade Finance will become available to your business as a tool to help boost your business’s productivity.”
Reviewed 19 August 2020