Renewable Energy Grants
Numerous grants and subsidies are available for SMEs as well as large organisations that are looking to utilise Renewable Energy solutions. While some of these grants are funded by the Federal Government, most of them are funded by State Governments for local businesses. In this section, we will discuss some of the grants available in this category and their eligibility criteria.
One of the grants funded by the Federal government in this category provides SMEs and large scale industries with matched-funding ranging from $100,000 to $50 million. To be eligible, businesses must have an ABN and must be an Australian incorporated agency. The business’ activities should involve at least one renewable energy technology.
Another grant funded by the Australian government provides SMEs with funding of up to $1 million, provided the management is willing to co-fund. The main aim of this grant is to increase the usage of renewable energy and decrease the production of greenhouse gases. It also aims at creating long-term employment. To be eligible, businesses should have an ABN, be an Australian incorporated agency, and be able to create sustainable job opportunities, increase the usage of renewable energy and decrease greenhouse gas emissions.
The Australian government also encourages community organisations to make use of renewable energy by providing them with grants ranging from $2,500 to $12,500 to put up solar panels, store batteries, make use of solar water systems, etc. To be eligible, entities should be: non-profit organisations, legal entities located in eligible locations and they should also have an ABN.
Renewable Energy Grants – State Government
Some State Governments provide grants in the form of assistance, such as free on-farm energy assessment to SMEs involved in the farming businesses to improve their energy savings and explore new renewable energy sources. To be able to eligible for this grant, businesses should have an ABN, spend in excess of $8,000/year towards energy bills (electricity, gas, LPG, and diesel) and be located in the state providing the assistance.
Few other states are helping SMEs to encourage the use of renewable energy by providing them with funding up to $3,000 to install solar panels or to upgrade their energy storage systems. To be able to avail these grants, an applicant must be based in the state providing the grant, must be the owner of an SME and be willing to install an appropriate battery or an energy system capable of storing solar energy in batteries.
Above mentioned are only some of the many grants that federal and state governments are providing to encourage SMEs looking forward to making use of renewable energy and reducing greenhouse gasses.
If you would like to learn more about the various grants available for your business, especially in your state along with their eligibility criteria, speak to one of your advisors today.