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Renewables, Climate and Future Industries Tasmania

Business Energy Efficiency Scheme

The Tasmanian Government recognises that the up-front cost of energy efficiency initiatives can act as a barrier and is launching the Business Energy Efficiency Scheme (BEES) in response.

BEES supports electricity customers with annual consumption of more than 150MWh invest in energy efficiency and electrification opportunities by supporting eligible applicants with financing costs.

BEES is  open for applications from Monday 17 April 2023.

BEES will offer support for up to $50 million in value of loans and will operate for up to three years, dependent on uptake of the scheme.

Eligible applicants will take out a commercial loan with a lender of their choice to undertake an approved energy efficiency investment.

The scheme will provide loan interest subsidies to eligible applicants by way of a once-off grant payment.

Through BEES, the Tasmanian Government will fund:

  • the full interest costs under the loan on up to $10,000 over the first three years, and
  • a 5 percentage point interest subsidy for loan amounts over $10,000 and less than $60,000 over the first three years.

Eligibility

The scheme is open to all commercial and industrial energy customers (business and not-for-profit) that meet the eligibility criteria.

To be eligible under the scheme, applicants will need to meet all of the following requirements:

  1. have an ABN
  2. take out finance with an AFSL entity to invest in energy efficient products
  3. use over 150MWh of electricity per annum
  4. operate within Tasmania, and
  5. install the energy efficient goods/equipment, or have energy efficiency services delivered, within Tasmania.

For a loan to be eligible it must be used to finance an energy efficiency investment – either equipment/goods or services
(see the scheme guidelines below for details).

There are limited specific exclusions under the scheme.

How to apply

  1. Read the guidelines and eligibility criteria carefully to make sure your business is eligible.
  2. Apply here via SmartyGrants
  3. Calculate potential loan subsidy

For more information about the scheme please call 1800 062 864 or email BEES@recfit.tas.gov.au.