Environmental Loans Enable Business Savings

Posted on 25 Nov 2016

Please note: this is an old article

It was published in November 2016, so the information may be out-of-date.

The first of the new Environmental Upgrade Agreements (EUAs) has been signed with Greater Shepparton City Council enabling two local businesses to save money on their power bills.

SCS Plastics and Rokez Constructions, both based in Shepparton, have just signed the first two agreements that enable them to operate environmentally sustainable properties.

Both businesses are installing solar systems with the aim of reducing energy consumption at their premises. SCS Plastics are installing a 300kw solar PV system on their building and Rokez a 60kw system. The environmental benefits alone will be a saving of 416.1 tonnes of CO2 annually and 106.4 tonnes respectively.

The competitive loans are issued to property owners for building upgrades to improve energy, water or waste efficiency, or increase renewable energy and may include solar panels, LED lighting, chiller upgrade, motion sensors, double glazing and weather proofing.

Tenants and owners of commercial and industrial properties can collaborate on energy, water and waste projects to reduce their operating costs.

The Environmental Upgrade Agreements are supported by the Australian Renewable Energy Agency through $425,000 in funding.

The loans are facilitated by the Sustainable Melbourne Fund (SMF) and managed through the council rates department. CEO of SMF Scott Bocskay said “These two projects, financed in this manner, demonstrate the opportunity for business to unlock the commercial opportunities of renewable energy for businesses like this across Victoria.”

“What’s more, these projects demonstrate that this form of finance is not just a tool for CBD office towers. Regional Victoria is demonstrating commercial and environmental leadership and we look forward to working with Greater Shepparton City Council and other regional local governments to unlock similar investment in their communities in the near future,” said Mr Bocskay.

Greater Shepparton City Council Director Sustainable Development, Johann Rajaratnam, said “A major barrier for landlords to pursue energy efficiency upgrades for their property is the cost of the building upgrades.”

“Business ratepayers will be able to access capital to improve their buildings which creates jobs and increases environmental performance and property value,” said Mr Rajaratnam. “Upgrades save on utility bills reducing the energy cost and reducing the impact of climate change.”

“The Environmental Upgrade Agreement is the latest innovative initiative undertaken by Council to introduce energy savings,” said Mr Rajaratnam. “Council last year completed the Watts Working Better street light replacement program. We also installed a cogeneration plant at Aquamoves to save $70,000 in energy costs and 800 tonnes of CO² emissions per year.”

“We are also changing over our passenger car fleet to more fuel efficient vehicles over the next few years with 70 per cent of vehicles now hybrid,” he said.

More information please contact Michael Caraffa, Team Leader Business & Industry Development on 5832 9846