The Australian government provides several grant programs to help small businesses and companies fund energy efficiency projects. These grants serve as a great opportunity for businesses that want to thrive in the industry.
The eligibility to access these grants may differ across programs and jurisdictions. That’s why it’s worth reviewing the funding guidelines provided by the grant providers beforehand. Besides that, there are many other things to know about energy efficiency grants for small businesses 2023. Here’s a brief:
What are Energy Efficiency Grants For Small Businesses?
Energy Efficiency Grants are grants ranging from $10,000 to $25,000 provided to small businesses for monitoring energy use, improving energy efficiency, and cutting down on costs. Small businesses could apply for the grant to cover up to 100% of their eligible project expenditure. The total amount available for this grant stood at $16 million.
Note that these grants are offered on a first-come, first-serve basis. It’s also divided across different states/territories as per the number of small/medium-sized businesses in the country.
Who Can Apply for this Grant?
Any small or medium-sized business in Australia with a total number of 1 to 199 employees is eligible for the Energy Efficiency Grant.
What are the Eligibility Criteria for Energy Efficiency Grants?
To be eligible for the Energy Efficiency Grants small business 2023, you must:
- Select your entity type (it could be an entity of Australia, a partnership, a sole trader, or none of the above)
- Answer if the project is aimed at reducing the energy consumption of your business.
- Have $10,000 in eligible expenditure
- Have your project included in one or more eligible activities in Appendix B of the grant opportunity guidelines.
- Have an employee headcount between 1 to 199 over 12 consecutive months since July 2019.
- Be the owner of the project location or have authority from the owner/representative of the project location to undertake.
What are the Objectives of Energy Efficiency Grants 2023?
With these Energy Efficiency Grants, small businesses can:
- Reduce greenhouse gas emissions and contribute to a better environment
- Boost energy efficiency practises and access energy-efficient technologies
- Manage energy usage and costs for both small/medium businesses
Just like the Energy Savings Scheme targets, the main aim behind Energy Efficiency Grants 2023 is to meet Australia’s target for a 43% reduction in 2005 emission levels by 2030.
What are the Intended Outcomes of an Energy Efficiency Grant Program 2023?
The outcomes of Energy Efficiency Grant programs for small businesses are to:
- Spread better awareness of the energy efficiency opportunities
- Provide assistance to small/medium-sized businesses to save adequate energy
- Lower power bills for hassle-free operations.
How to Apply for Energy Efficiency Grant Programs 2023?
To start off with the grant application process, follow the below steps:
- Set up an account to access the online portal at business.gov.au
- Complete and submit the application process through the online portal.
- Provide all the necessary information as asked. Make sure the details are accurate and complete.
Before you apply for the grant, read through all the necessary points of the guidelines and grant agreement. Also, go through the application form thoroughly.
How is the Application Assessed?
As soon as you apply for the Energy Efficiency Grants 2023, your application will be thoroughly analysed by professionals. They’ll check for account submission time, date, and distribution throughout federal electoral divisions.
One can access a maximum of three grants per federal electoral division. Besides that, the eligible applications in each division will be provided funds as per the submission date and time.
Depending on whether your grant application was successful or not, you’ll get notifications for both. If your application gets successfully accepted, you’ll get a written offer, and if it’s rejected, you’ll be notified about it in writing.
What’s Next?
Once your application gets successfully accepted, you’ll have to enter into a grant agreement with the Commonwealth. There you’ll be able to find out other details like the reporting requirements and payment schedules. After the successful execution of the grant agreement, the officials will offer you 100% of the grant money.
The money will be transferred through direct credit to the nominated bank account. However, once your project ends, you must report to the officials about how you spend the funds for your project.
Can I Apply For Energy Efficiency Grants For Small Businesses in 2023?
Round 1 for Energy Efficiency Grants small business 2023 started on 6th March 2023 (Monday). However, the new application for Round 1 is closed now because the funds have been met in all jurisdictions. The grant was closed on 19th April 2023. If you want to apply for Round 2, the new application will start from next year.
Can I Apply for Energy Efficiency Grants For Small Business Round 2, If I Have Taken Funds in Round 1?
As of now, there are no guidelines for the Round 2 session of Energy Efficiency Grants for small businesses. That’s why no one can answer that question. Additional information will be provided as soon as the guidelines get released.
That’s it. Hopefully, now you know everything about the energy efficiency grants for small businesses in 2023.
