May 19, 2016

Westpac and CEFC provide $200m sustainability fund for Australian businesses

Admin
1 min
Australia’s Clean Energy Finance Corporation (CEFC) are collaborating with Westpac Bank to offer Australian businesses access to low cost finan...

Australia’s Clean Energy Finance Corporation (CEFC) are collaborating with Westpac Bank to offer Australian businesses access to low cost finance for investment in clean energy technologies and low emissions vehicles.

The Westpac Energy Efficient Financing Program, valued at $200 million, stands to benefit a variety of Westpac customers – from agribusiness to healthcare and local government.

The bank intends to use the funds to provide customers with a 0.7 percent discount for qualifying projects, including: rooftop and off-grid solar PV; battery storage and solar thermal; energy-from-waste schemes and low emissions vehicles

Westpac General Manager, Commercial, Alastair Welsh said: “Westpac is committed to helping make Australian businesses stronger and we recognise the opportunities that come with investment in energy efficiency, both in terms of lower costs for business and better environmental outcomes.

“This is an opportunity for our customers to improve their use of energy and also help lower energy costs, as well as access discounted lending rates supported by the CEFC’s financing commitment.”

The Westpac Energy Efficient Financing Program offers finance leases, commercial loans and commercial hire purchase finance for suitable renewable technologies.

Find out more in the CEFC Fact Sheet

This story was originally published at Australia Business Review

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May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

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