The Morrison Government’s economic plan is creating jobs by helping small and medium businesses save money on their energy bills through a new $60 million Powering Business program.
A re-elected Liberal and Nationals Government will offer grants of up to $25,000 to small businesses, and up to $50,000 matched funding for medium businesses to support energy efficient equipment upgrades to save businesses money.
Prime Minister Scott Morrison said the program backs small and medium businesses, and would boost investment and grow jobs.
“Affordable and reliable energy is part of our economic plan,” the Prime Minister said.
“By empowering small and medium businesses to invest in cost-saving, energy efficient upgrades we’re building a strong economy for a stronger future.
“By investing in energy efficient equipment, thousands of businesses can save thousands of dollars on their energy bills, putting more money back in their pockets to reinvest and create more jobs.
“Whether it’s replacing air conditioners, upgrading cool rooms, installing new equipment, this will help Australian businesses from the farm, to retail, to manufacturing, to cut energy bills and get ahead.
“Under the Liberal and Nationals Government, energy prices have fallen. Business energy costs are down 10 per cent, and energy bills for Australian families have fallen by eight per cent across the National Electricity Market over the past two years. Under Labor, power prices doubled.”
Minister for Industry, Energy and Emissions Reduction Angus Taylor said the program continues to build on the Morrison Government’s strong record of backing businesses and delivering affordable, reliable power.
“Small and medium businesses are the lifeblood of our economy and improvements to their energy productivity can make a big difference in helping them reduce their overheads,” Minister Taylor said.
“This program could support thousands of SMEs reinvest in their businesses, building on the success of the Energy Efficient Communities and Hotel Energy Uplift programs, which have already supported over 1,300 businesses invest in new initiatives to help lower their energy bills.
“Providing funding to help SMEs make these investments will provide genuine and lasting savings on power bills with a positive flow on effect for jobs and the competitiveness of small and medium businesses into the future.”
Grants of up to $25,000 will be available to small businesses, with a turnover up to $10 million and up to 20 employees, with no requirement for matched funding. Grants of up to $50,000 will be available to medium businesses, with a turnover up to $50 million and up to 200 employees, with a requirement for matched funding.