Small businesses will save approximately $20 million in energy costs every year via grants provided under the South Australian Government’s $154 million Economic Recovery Fund (ERF).
Round 2 of the ERF has seen more than 980 businesses across South Australia share in $22.17 million worth of grants so far to purchase energy efficient equipment, to help reduce their power bills both now and into the future.
Henley Beach restaurant Secrets by the Sea is one of the successful applicants receiving nearly $15,000 to install solar panels with accompanying battery storage, which is now saving them an estimated nearly $15,000 in power bills each year.
The grants ranged from $2,500 to a maximum of $50,000, with the businesses matched dollar for dollar by the South Australian Government.
The top three industries to receive grants are retail, hospitality and accommodation and agriculture, forestry and fishing.
The grants could be used for investments including:
- Purchasing and installing power supply and generation equipment (like batteries and solar panels)
- Replacing existing appliances with more energy efficient appliances (above 4- star rating air conditioners, refrigerators, freezers and dishwashers)
- Purchasing/adopting automation technologies that result in greater energy efficiency
- Building improvements for more efficient heating and/or cooling
The most popular equipment being installed is solar panels with battery storage, followed by more energy efficient appliances.
An Energy Consumption Reduction Calculator was part of the application process to estimate the impact of the grants on energy bill savings.
Based on the applications that have been approved, small businesses and not-for-profits will benefit from energy bill savings of approximately $20 million per annum, as calculated by the applicant at the time of submission.
