Thursday, May 30, 2024

CEFC and CBA help to fund energy efficiency

The Clean Energy Finance Corporation (CEFC) and Commonwealth Bank have launched a $100 million energy-efficient-equipment finance program to provide Australian businesses with lower-cost finance for a wide range of assets that meet certain energy-efficiency standards.

The new program allows businesses to benefit from reduced energy and fuel costs, while also lowering their carbon emissions. The program will support business investment in energy-efficient and lower-emission vehicles, equipment, machinery and fixtures that meet the CEFC’s investment guidelines.

The finance will provide a 0.7 per cent discount on the bank’s standard asset finance rate for assets ranging from $10,000 to $5 million, where the asset’s technologies meet the CEFC’s investment guidelines.

Eligible investments include a broad range of fuel-efficient vehicles, energy-efficient lighting and fittings, farm machinery, commercial lighting and rooftop solar panels.

CEFC CEO Oliver Yates said the program provided businesses with compelling reasons to invest in energy-efficient and renewable technologies.

“In a world that is transitioning to cleaner energy through the rapid global uptake of technologies like solar, battery storage and electric vehicles, it’s imperative Australian businesses position themselves to take advantage of technologies that will help them work smarter and save them money through reduced energy use and operating costs,” he said.

“This new program financed by the CEFC and offered through the Commonwealth Bank provides a great opportunity for businesses to invest now in energy-efficient, low-emission and renewable-energy technologies.”

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