Upgrading to LED lights makes economic sense, and the potential to secure an Australian government rebate for the purchase is an added bonus.
The upgrade of your commercial buildings to LED lighting provides considerable power and maintenance savings. It also reduces your resource use, an important step towards tackling climate change.
Most Australian governments have energy rebates available to encourage the uptake of LED, and funding is increasingly becoming available from the private sector. The options available change over time and won’t last forever, so we’ve compiled a list of energy rebates and funding opportunities that are available in 2019 .
Government funding for LED lighting upgrades
Each state government in Australia offers their own energy rebates, and these change from year to year. Austep Lighting can help you find the right government funding for your state.
Each scheme targets a different aspect of energy savings and, as such, have varied requirements. In general, state government bodies tend to assess products, monitor compliance, accredit companies to create certificates, and pay financial rebates for energy savings activities.
Occasionally, these schemes encourage inexperienced lighting companies to enter the market with low-quality products. These tend to disappear just as quickly, leaving behind them a trail of failing, and often unsafe, LED lights.
Thankfully, there are still many reputable companies, such as Austep Lighting, who offer high-quality LED lights and these rebate schemes can help to pay for part of the upgrade.
- Victorian Energy Efficiency Target (VEET): provides incentives for energy efficient technology to both households and businesses in a bid to reduce greenhouse gasses. As part of this scheme, the Victorian Energy Upgrades (VEU) allows businesses to purchase discounted energy saving products.
- New South Wales Energy Saver Scheme (ESS / IPART): provides incentives to NSW businesses and households to install equipment and products that provide energy efficiency. They are currently subsidising the cost of the upgrading, installing and purchasing of LED lighting.
- South Australia Retailer Energy Efficiency Scheme (REES): provides discounted or free energy saving products for homes and businesses. This includes the installation and purchase of efficient lighting products such as LED.
- Australian Emissions Reduction Fund (ERF): funds the adoption of greenhouse gas-reducing technology and practises. activities such as commercial lighting upgrades. While this fund provides funding for businesses, only very large projects tend to be financially viable.
- Community Grants: are available to local sporting or community groups to upgrade facilities, and vary from state to state.
Private funding for LED lighting upgrades
Some energy companies offer a financial rebate to upgrade to LED lighting. They do this in areas where the power grid is struggling; because reducing energy demand means less stress on their infrastructure.
Energex’s Positive Payback Program, for example, encourages businesses to improve energy efficiency by upgrading old products. They will pay for lighting upgrades to reduce demands on the power grid. Austep Lighting has assisted clients to access Energex rebates, including Spicers Resorts and Paddington Hardware .
There are also various low-interest energy efficiency loans available for LED lighting upgrades. These loans are often structured so that the financial savings of the project outweigh the loan repayments, to make you project cash flow positive from day one. In most cases this means you never have to spend any money, you simply redirect your power bill savings into your energy efficiency efforts.
The largest scheme is funded by the Clean Energy Finance Corporation (CEFC) in partnership with big banks such as Westpac. This loan provides discounted interest rates to implement and upgrade to cost-effective clean energy solutions. Austep Lighting has been involved in CEFC energy efficiency lighting upgrades for many happy customers including Ray White .
Austep Lighting lives and breathes energy efficiency: we know when and where rebates and funding are available for LED light upgrades. Get in touch with us today to find out what we can do for you.