The government realises the harmful effects of reliance upon carbon fuels to fulfil the energy requirements of industries. It encourages transition to renewable sources of energy. Many grants are provided by the federal as well as state governments to eligible small and medium sized businesses investing in renewable energy solutions.
Advancing Renewables Program
Advancing Renewables Program is operated through Australian Renewable Energy Agency (ARENA). Its main objective is to provide funding to businesses involved with developing renewable energy technologies. ARP is an ongoing program and eligible entities can apply for a grant any time of the year. If you are undertaking renewable energy project, you can get matched funding between $100,000 and $50 million from the agency.
- Your business should have ABN
- The project should be involved with a renewable energy technology
- Your program should lead to reduction in cost of energy
- The project must be commercially viable
Renewable Energy Target
RET is a policy of the government that ensures minimum 33,000 GWh of electricity to come from renewable energy sources by 2020. There are two components of RET.
Large Scale Renewable Energy Target asks big users of electricity to ensure partial switching to renewable energy sources. This is done through purchase of renewable energy from power stations running on solar of wind energy.
Small Scale Renewable Energy Scheme
Under SRES, individuals and businesses are encouraged to make use of renewable energy through installation of solar water heaters, pumps, and rooftop solar systems.
RET has achieved its targets in September 2019 but it has been extended till 2030. This imitative has helped large numbers of citizens to save hundreds of dollar in the annual energy bills. It has created massive investments in renewable energy sources. Finally, RET has helped in creation of thousands of jobs for young Australians.
Power2U is a solar and lighting incentive project launched by Ausgrid, a company owned by the government of New South Wales. Under this program, the government will encourage customers to switch to solar power systems and LED lighting systems. Power2U is a program that will be run in selected suburbs of Sydney for a period of 2 years. Under this program, incentives will be provided to customers agreeing to installation so solar power system installation in their homes and commercial establishments. For the purpose of discounts, only those systems that have been installed before 31 December 2020 will be taken into account.
To avail the rebates available under Power2U program, you must communicate with service provider in your area and make a request for a quote. The service provider will make an assessment of the solar system requirement in your premises and then make an offer.
Australian Renewable Energy Agency (ARENA)
ARENA aims to make renewable energy technologies more competitive. It also aims to increase the supply of renewable energy for the benefit of Australian citizens and businesses. ARENA provides funding to entities doing research in renewable energy technologies so that clean and green energy can be made easily accessible to more and more people at affordable prices.
Please contact one of our advisors on the number mentioned below to learn more about the Australian government’s initiatives towards renewable energy sources and to discuss your eligibility.