Economic empowerment opportunity for Australian business
Australian Clean Energy Finance Corporation and Westpac investment
Westpac customers ranging from education, health and aged care to agribusiness, manufacturing, commerce as well as state and local government sectors are among those who can benefit from a $200 million program making it easier to take control of energy costs.
The Westpac Energy Efficient Financing Program, which uses a $200 million finance commitment from CEFC, provides customers with a 0.7 per cent discount on finance for investment in solar, energy efficient technologies and low emissions vehicles.
The CEFC is a statutory authority established by the Australian Government under the Clean Energy Finance Corporation Act 2012.
The CEFC works with financiers like Westpac to broaden the opportunities for businesses to take advantage of the benefits clean energy technologies can offer.
Using solar, lower emissions vehicles and the right energy efficient equipment can have a substantial benefit on business costs, in addition to the obvious environmental gains.
The Westpac Energy Efficient Financing Program offers finance leases, commercial loans and commercial hire purchase finance for qualifying projects.
Eligible projects include:
Rooftop and off-grid solar PV
Battery storage and solar thermal
Energy efficiency cooling and heating equipment
Low emissions vehicles
Projects that upgrade the energy efficiency of buildings
Projects registered for Australian Carbon Credit Units (ACCUs) under the Emissions Reduction Fund.
The finance, for up to 100 per cent of the project cost, is available for terms of up to 10 years, for individual projects starting at $15,000.