What is the Energy Efficiency Grants for program?
The Energy Efficiency Grants for Small and Medium Sized Enterprises is a two-year program by the Australian Government aimed at helping small and medium businesses improve their energy efficiency practices and reduce greenhouse gas emissions. The program will run from 2022-23 to 2023-24, with a total of $62.6 million funding available.
Who is eligible for the grant and what can they use the funding for?
To be eligible, applicants must have an Australian Business Number (ABN) and be incorporated in Australia, a partnership, or a sole trader. The entity must have 1 to 199 employees averaged over any consecutive 12-month period since July 1, 2019. Applicants must also have consent from the owner of the project location to undertake the project if they are not the owner. The eligible activities for this grant include those that help reduce the energy consumption of your business in Australia. This can be achieved through purchasing or hiring equipment to measure, monitor and record energy use, conducting energy audits of the site, replacing existing equipment with more energy-efficient equipment, and other activities.
Maximum Grant Amount
How much funding is available and how much can businesses receive?
The Australian Government has announced a total of $62.6 million for the program. For the first round of grants, a total of $16 million is available. The grant amount covers up to 100% of eligible project expenditure, and the maximum grant amount is $25,000, while the minimum is $10,000. If the eligible expenditure exceeds the maximum grant amount, the applicant is responsible for the remaining amount.
How can businesses apply for the grant?
Applications for Round 1 will open on 6 March 2023. Applicants must submit an online application through the business.gov.au portal. The application must include information about the applicant and their business, the proposed project and how it will reduce energy consumption, and a detailed budget. The application will be assessed against the eligibility criteria and the merits of the proposed project. If the application is successful, the applicant will receive a grant agreement that outlines the terms and conditions of the grant, including the eligible activities, expenditure, and reporting requirements.
What is the grant allocation process?
The grant program is demand-driven, and grants will be awarded on a first-come, first-served basis until the funding is exhausted in each jurisdiction. There will be other grant opportunities as part of this program.
