PUTTING ENERGYEFFICIENCY TO WORKFOR BUSINESSTHE FORGOTTEN FUEL SERIES

MAY 2024

IT’S TIME TO HARNESS THE

POWER
OF ENERGYEFFICIENCY
In businesses large and small, energy costs and emissions are not only
important topics of conversation – they represent real opportunity.
Foreword by Clare Morgan and Luke Menzel.
These are challenging times for Australian businesses.
High costs of materials and energy are making it harderfor small and medium-sized enterprises (SMEs) to growand compete.
One clear strategy for SMEs to navigate these challenges isto prioritise energy efficiency in their business operations.
Not only can businesses save money by finding more
efficient ways of using and managing energy, they can
reduce emissions, respond to growing consumer andsupplier expectations around increased sustainability
and improve business resilience at the same time.
In 2023, we released the first report in our Forgotten Fuelseries, Putting energy efficiency to work, highlighting the roleof energy efficiency in Australia’s net zero transformation.
In this report, we look at the steps SMEs can take to unlock
the benefits of energy efficiency.

EFFICIENCY, ELECTRIFICATION
AND RENEWABLES
Energy efficiency, electrification and renewables are thecritical ‘tools in the toolbox’ for SMEs who want to lower
their energy bills and their emissions.
Energy efficiency simply means getting more out of every
unit of energy. This can mean a range of things – replacing
old lightbulbs with modern LEDs that can use 90 per centless electricity, or adding insulation to lower the costs ofkeeping a building warm in winter and cool in summer.
Electrification involves replacing equipment powered byfossil fuels (such as gas) with modern electric alternatives.
As more and more electricity comes from renewables
like solar and wind, electrification will help to ensure zerocarbon energy is powering the jobs that need doing.
Of these three upgrades, the best place for SMEs
to make a start is with energy efficiency.

CONTENTS
It’s time to harness the power of energy efficiency Your business journey
Supercharging emissions reduction
Seizing the business opportunity

01
05
06
11

Accessing advice and support
22
Acknowledgments24
Further resources
25

1

FOCUSING ON THE FIRST FUEL
Energy efficiency is sometimes referred to as the ‘first fuel,’to reflect its importance in energy and emissions savings.
After all, the cheapest and most environmentally friendly
power source is the one you don’t have to use in thefirst place.
While many nations are putting energy efficiency frontand centre, Australia has moved more slowly to unlock
the potential, which is why energy efficiency is sometimes
referred to here as the ‘forgotten fuel.’
But things are changing.

The Forgotten Fuel series is the result ofa longstanding collaboration between ANZ
and the Energy Efficiency Council. These reports
explore how businesses and households canbenefit from using energy efficiency as a tool
to supercharge emissions reduction, save money,
and improve health and wellbeing.
In this edition, we show how SMEs can reduce
their energy use and advance Australia’s net zero
emissions goal.

As energy costs increase, global emissions reduction
deadlines get closer, and consumer demand forsustainability grows—governments and businesses
will need to take decisive action on energy efficiency.
There are many things SMEs can do right now to start
their energy efficiency journey, reduce costs, and makereal progress toward a net zero emissions future.
We hope this report helps you navigate the opportunities
for your business.

2

CLARE MORGAN

LUKE MENZELGroup Executive,
Australia Commercial ANZ

Chief Executive Officer,
EEC

3

YOUR

BUSINESSJOURNEY
Every business is different, but all SMEs have the potential to benefit
from energy efficiency, electrification and renewables.
WHY (page 6)

WHAT (page 19)

Energy efficiency, electrification and renewables are criticalenergy upgrades that help SMEs save money
and supercharge emissions reduction.

Energy efficiency, electrification and renewables have arole to play in every sector, but different industries requiredifferent approaches when deploying these tools to savemoney and emissions.

HOW (page 11)
SMEs looking to implement energy efficiency solutions
can make a start with three questions:• How is energy being used in my business?
• What energy upgrade opportunities can I act on now?
• Can I get a better deal on the energy I purchase?

WHERE (page 22)
Businesses of all sizes can access help from a variety ofplaces, including government, the energy services sector,
and their bank.
WHEN
Opportunities to harness energy efficiency, electrification
and renewables are available now.

4

5

SUPERCHARGING EMISSIONSREDUCTION
Energy upgrades are key to meeting emission targets.
According to the United Nations, to avoid the worst
impacts of climate change, global temperature increase
must be limited to 1.5°C above pre-industrial levels.1
In 2022, Australia legislated emissions reduction targets
to reduce net greenhouse gas emissions to 43 percent below 2005 levels by 2030, and to reach net zero
emissions by 2050.2

What does net zero actually mean?
Net zero emissions means balancing thegreenhouse gas emissions created and released
into the atmosphere, with the emissions removed
from it. Net zero relies on reducing emissions
as far as possible, and using CO₂ removals (suchas planting trees) to account for the remaining
carbon emissions produced.

THE LEAST-COST PATHWAY
TO NET ZERO EMISSIONS
Energy efficiency is a great tool for emissions reduction
because it helps to reduce emissions quickly andcan be done right across the economy – from small
businesses to large corporations.

ENERGY EFFICIENCY AS PART OF AUSTRALIA’SEMISSIONS REDUCTIONS (MT CO2-E) TO 2050
-13.5%

Electrification

-6.1%

-68

Modelling commissioned by ANZ and the EEC foundenergy efficiency can deliver up to 18.5 per centof the emissions reduction Australia needs by 2030 –and 13.5 per cent by 2050 – to achieve its emissions
reduction targets.3-25.6%-128

Energyefficiency-30

Renewable
fuels

2050

In fact, when energy efficiency is combined withelectrification, it makes up almost 40 per cent of theemissions reduction Australia needs – a bigger shareof emissions reduction than renewable electricity.4

-131

-143

-26.2%-28.6%

Renewable
electricity

CO2 removal

Energy efficiency scenario modelling
In 2023, ANZ and the EEC commissioned Northmore Gordon, a leading provider of energy and carbon advisory services
across Australasia, to undertake research into the role of energy efficiency and electrification in decarbonising Australia.
The charts in this report are a result of this work.
United Nations n.d., For a liveable climate: Net-zero commitments must be backed by credible action.
Albanese, A & Bowen, C 2022, Australia legislates emissions reduction targets.
3
Northmore Gordon 2023, Energy efficiency scenario modelling.
4
Ibid.
1
2

6

7

AT COLORMAKER, EFFICIENCYIS THE KEY TOOL FOR CUTTINGCOSTS AND EMISSIONSBROOKVALE, NSW
David Stuart is the Managing Director of Colormaker
Industries, a sustainable paint manufacturer in Brookvale,
NSW, which has been in business for over 65 years.
The first step on their sustainability journey was installinga solar system. David says that bringing in an expert todevelop an energy management plan was pivotal inbringing down Colormaker’s energy bills and emissions .
“The energy engineer found 26 per cent of our energy was
being used on compressed air, and a third of that was being
wasted,” he explains. “Investing in a new compressor has
resulted in a 23 per cent reduction in electricity usage
across the entire site.”This small step achieved giant energy and cost savings,
showing the importance of having someone who
can translate “engineering type stuff” into practice. “It’simportant to have partners in the process,” David reflects.
The next step on their sustainability journey was a battery
to store surplus electricity. Four years on, Colormaker’s
electricity bill has gone from $24,000 to actually being paid
$300 for the excess electricity they were able to feed backinto the grid. As David explains, “Electricity is no longer acost, it’s a revenue stream.” It’s no wonder Colormaker tookhome Business NSW’s Sydney Metro Sustainability Awardin 2023.
Even with so much success, David isn’t planning on slowing
down. He’s passionate about continuing Colormaker’s
sustainability journey.

“ ELECTRICIT Y IS NO LONGER A COST,
IT’S A REVENUE STREAM .”DAVID STUART

8

9

SEIZING THE BUSINESSOPPORTUNITY
Energy upgrades enable businesses to take control
of energy costs and emissions.

AUSTRALIA’S EMISSIONS REDUCTIONS (MT CO2-E)
BY SECTOR TO 2050 IN A LOW-COST SCENARIO
Agriculture, forestry and fishing -1.7%
Commercial buildings and services -10.1%

Mining -15.2%

Residential buildings -10.4%

While most businesses may know the largest sourcesof energy use within their operations, they may
not have the data or advice they need to identify energy
upgrade opportunities.

2. What energy upgrade opportunities canI act on now?
Use data, insights and expert advice to undertake targeted
upgrades that make sense for your business.

Transport, postal and warehousing -24.1%
Whole of economy non-energy emissions -14.8%

Electrification

Less attention has been paid to the opportunities forbusinesses to take control of energy costs by changing
the way they use and manage it.

1. How is energy being used in my business?
Understanding where, when and how energy is being
used across your business can unlock performance
improvements, drive strategic decision-making and assist
with reporting on emissions targets.

Other sectors' energy-related emissions -4.6%

CO2 removal

1. HOW IS ENERGY BEING
USED IN MY BUSINESS?

With the scale and timing of Australia’s energy transition
now clear, businesses can start their energy upgrade—energy efficiency, electrification and renewables—by
asking these three questions:

Manufacturing -19.0%

Total emissions reductions 2022 - 2050 (Mt CO2-e)

The high cost of energy and its impact on businesses
has been widely reported.

20

0Energy efficiency

40

60

80

100

Renewable electricity

120

140

One option is to use advanced metering and monitoring
systems. While businesses may be familiar with thestandard meter box that measures electricity use acrossa whole building or site, “submeters” can be installed tomeasure the energy use of specific equipment or facilities,
and can help identify opportunities for performance
improvements and cost savings.
Businesses can also engage an energy auditor to help
understand their energy consumption, make strategic
equipment upgrades and identify further opportunities
for savings.

3. Can I get a better deal on the energy I purchase?
Consider the range of options available on how best
to source energy for your business.

Renewable fuels

Source: Northmore Gordon 2023, Energy efficiency scenario modelling.
Note: ‘Whole of economy non-energy emissions’ means all of the non-energy related emissions in Australia, including indirect energy emissions
like fugitive emissions. This also includes emissions from agriculture, industrial processes and product use, and waste.

1011

COMMON ENERGY UPGRADEOPPORTUNITIES FOR CONSIDERATION
Establishing an Energy Management System (EnMS)
Energy upgrades are part of an approach called “energy
management,” a broad term covering activities that
optimise energy use. As this report discusses, energy
management can deliver between 10 and 80 per centin energy savings for businesses, depending on thebusiness function.5
Energy management can involve implementing a formalenergy management system that supports continuous
improvement of energy performance year-on-year.
In organisations where energy spend is a significant
operating cost, implementing a robust EnMS can delivera good return on investment.
A recent report by the Climate Group found global
businesses that have implemented an EnMS achieve an
average 7 per cent improvement in energy productivity.6 7
The Australian research organisation Climateworks Centre
has also found savings generated from investment
in energy productivity can create increases in annual
profits of 2 to 10 per cent.8
Energy management can also help shield businesses
from volatile energy prices. By using less energy,
electrifying operations and harnessing the powerof renewables, businesses are better prepared next time
local or international markets serve up a price shock.
2. WHAT ENERGY UPGRADEOPPORTUNITIES CAN I ACT ON NOW?
Once a business understands its energy use, it can makeinformed decisions on where to invest. This could be inenergy efficiency, electrification, on or off-site renewableelectricity generation.
Energy efficiency and electrification
Electrification supercharges energy efficiency actions,creating a range of opportunities for SMEs acrossall industries.
As well as reducing energy use, investing in energy
efficiency and electrification can lead to lower
maintenance costs, process improvements and enhanced
product quality, and can be even more cost-effective thaninvestments in renewables such as solar.
Opportunities for improving energy efficiency andimplementing electrification vary by sector and areoutlined in the ‘Energy management opportunities
by sector’ section. These opportunities range fromthe straightforward and low-cost, to targeted equipment
upgrades and facility-wide retrofits.

What is electrification?
Electrification involves replacing technologies thatuse fossil fuels with technologies that use electricity.
Importantly, electric appliances and equipment not
only enable the use of renewable electricity, they’realmost always more efficient than fossil fuel powered
appliances, equipment and vehicles.

Energy upgrades can offer businesses the ability to reduceenergy use by between 10 and 80 per cent, depending
on business functions. Typical energy savings include:

Modern heat pumps– like reverse cycle air
conditioners and heat pump hot water systems –are a good example. Not only do they reduce fossil
fuel use (by replacing gas heating with an electric
option), they’re also super-efficient: some heatpumps can provide three to four times as muchheat energy as they take to run.
Industrial scale heat pumps are becoming
increasingly common around the world.
They are particularly well suited to delivering
low temperature process heat – such as that
required for food processing.9

compressed
airfrom desktop computers
to laptops

electric motors
and pumps

heating ventillation
and AC (HVAC)

lighting

printers and officeequipment

refrigeration

steam, hot waterand process heating

voltage
optimisation

Another option for businesses is to shift to electricvehicles. Smaller logistics companies, or small
businesses with local deliveries, may benefit
from electrifying their fleet, reducing runningcosts and exposure to volatile fuel prices, as wellas providing a clear opportunity to showcase theirsustainability credentials.

Upgrading and replacing equipment
Energy efficiency is often achieved through equipment
upgrades, or optimising the operation of equipment thatbusinesses already have. For example, heating, ventilation
and air conditioning (HVAC) accounts for around 40 per
cent of the total energy bill for SMEs.10 That means an
upgrade to a more efficient reverse cycle air conditioner– or tuning a big HVAC system in a commercial building –can deliver big energy savings.
In Victoria, the state government’s Victorian Energy
Upgrades program suggests businesses can achievesavings of up to $74,000 a year on energy costs by using
the program to upgrade equipment such as heaters
and refrigeration, depending on the size of the businessand the nature of the upgrades.11 Similar savings
are reported by the NSW Energy Savings Scheme12and other government programs.

Energy Efficiency Council 2022, Leveraging tax incentives to improve energy performance: a guide for Australian businesses investing in smart energy management.
Climate Group 2023, Climate critical: the energy efficiency imperative.
7
The term energy productivity describes the ability to either reduce energy costs per unit of production, or to increase production without increasing energy costs.
8
Climateworks Centre 2016, Energy productivity for companies.
9Australian Renewable Energy Agency (ARENA) 2022, Heat pumps electrifying industrial processes.
10
DCCEEW 2022, Business equipment guides – HVAC.
11
Victorian Department of Energy, Environment and Climate Action 2023, Victorian Energy Upgrades for businesses.
12
NSW Government 2023, Energy Savings Scheme.
5
6

12

Source: Energy Efficiency Council 2022, Leveraging tax incentives to improve energy performance:a guide for Australian businesses investing in smart energy management.

13

Demand flexibility – managing when energy is used
Demand flexibility offers businesses the opportunity to
reduce energy costs by managing when energy is used.
The goal is to use less energy when prices are high, andshift energy use to times when prices are low.
New technologies enable very rapid adjustment of energy
use in response to price signals or other changes in theenergy system. This sort of flexibility – known as demand
response – can help to stabilise the grid, which is why
businesses can already get paid for some kinds of demand
response services.
Different demand flexibility strategies suit different
businesses’ circumstances which is why getting expert
advice is recommended. For SMEs that use a lot of energy,
considering time of use can be just as important as how
much energy is being used.
Renewable electricity
Renewables are the cheapest form of electricity generationin Australia.13
On site renewable electricity can help reduce a business’
reliance on grid-supplied electricity and gas, reducing
exposure to high energy prices and market volatility.
For many businesses, on-site renewables are now cheaper
than grid-supplied electricity.
The amount of on-site renewable energy a business caninvest in is generally limited by available space and otherstructural issues. This is prompting some businesses
to actively pursue contracts with large-scale renewableenergy generators that can meet all or part of theirenergy supply needs.

3. CAN I GET A BETTER DEAL
ON THE ENERGY I PURCHASE?
Almost all businesses still need some grid-supplied
electricity, even if they generate electricity on-site.
Many SMEs have a fixed price forward contract. This is anagreement with a retailer in which the price is set for one,
two or three years. As energy retailers compete on pricing,businesses that put the time into researching various offers
are likely to get a better deal.
For larger or more energy intensive businesses, exploring
innovative contracting arrangements can be worthwhile.
From ‘block purchasing with managed spot exposure’ to‘renewable power purchase agreements’ – there are many
options, and to understand which arrangement is best
suited to their needs, energy intensive businesses may
benefit from seeking expert advice.

Did you know?
Most Australian Homes are now required to meet
7 stars on the Nationwide House Energy Rating
Scheme. But the majority of Australia’s 11 million
existing homes rate very poorly – with an averageof less than 2 stars.*This means most of Australia’s homes are too hot
in summer, too cold in winter, and require a lotof energy to heat and cool.
Even without investing in technology,
straightforward upgrades such as draftproofing,insulation and shading can create big changes
to the comfort and energy cost of these homes.
*COAG Energy Council 2019, Report for Achieving
Low Energy Existing Homes

14

13

DCCEEW 2022, Renewables confirmed as cheapest source of electricity.

15

C. STREET PROJECTS IS
CAPITALISING ON HIGH QUALITYSUSTAINABLE HOUSINGMELBOURNE, VIC
Kin Seng Choo is the co-founder of C. Street Projects, aproperty development business committed to well-designed,
low-energy buildings. At a site in Melbourne’s east, C. Street
Projects is building Australia’s first Passive House-certified
townhouses.
C. Street Projects aims to deliver efficient homes that stay
comfortable year-round and says it applies the internationallyrecognised Passive House standards, which consider
insulation, windows, ventilation and other building elements.
When explaining C. Street Projects “low energy” homes, Kinsays the focus is on just how little electricity is needed to keepthem cool in summer, and warm in winter.
Kin acknowledges it’s not always easy for buyers tounderstand the up-front costs associated with low energy,
high-performance materials such as double-glazed windows.
But he says the Passive House approach is a long-term
investment that pays for itself through reduced operating
costs for the homeowner.
While ensuring the benefits of their developments are felt
by the people who live in them, Kin and his team are also
committed to reducing emissions across their business andsupply chain.
Kin says this approach helps differentiate C. Street Projects,
giving them a competitive edge. “We are just getting
ahead of the curve,” he says. “It’s about future proofing
our business model.”When it comes to sustainability and delivering high quality
products, Kin believes it’s the right time for business owners
to tread their own path. Those that are first movers, like Kin
and his team, will be well placed as Australia transitions
towards net zero emissions.

“IT’S ABOUT FUTURE PROOFING OUR BUSINESS MODEL.”KIN SE NG CHOO

16

17

ENERGY MANAGEMENTOPPORTUNITIES BY SECTOR

AGRICULTURE, FORESTRYAND FISHINGMANUFACTURING AND FOOD
PROCESSING

Integrating energy management withsmart land, water and farm management
Active and ongoing energy management can improve
productivity in peak and off-peak seasons, reducing
equipment breakdowns and maintenance issues.

Shifting to efficient electric heat pumps
for low and medium temperature heat
Replacing inefficient gas and electric heaters with hyper
efficient heat pumps can improve energy performance.

Deploying digital tools
Advanced technology can increasingly be used
to improve real-time data and decision-making, helping
the sector to automate and optimise resource use.

Innovating with ‘Industry 4.0’
A reference to the “fourth industrial revolution”, Industry 4.0
describes the digitalisation of entire processes and value
chains, beyond the performance of single machines. Smartdevices automatically optimise manufacturing processes
and conduct self-analytics and diagnostics, helping to
improve energy efficiency.

COMMERCIAL BUILDINGSAND SERVICES

ENERGY MANAGEMENT OPPORTUNITIES –TRANSPORT, POSTAL AND WAREHOUSING

Benchmarking performance witha Nabers Energy Rating
By improving its NABERS energy rating from 4 to 6 stars,
office buildings can save an average of $280,000 per year.14

Electrifying freight transport
Electric vehicles are much more energy efficient thantheir fossil fuel counterparts, typically converting over 70
per cent of their fuel (electricity) into power comparedwith around 30 percent for diesel.16

When an office tenancy goes from 3 to 5 stars, it can save
$90,000 per annum.15
Adjusting to the hybrid workforce
Reduced occupancies from increased
working-from-home arrangements mean heating,ventilation, air conditioning and other services
can be optimised. There is an opportunity to workwith building owners to reduce electricity costs.

Ford, VW and Peugeot have electric delivery vans for salein Australia and electric heavy-duty vehicles (HDVs)
are being tested for long-haul transport, with recent
regulatory changes on vehicle width paving the way
for more electric HDVs to enter the market.
Learn more about the latest developments in electricvehicle technologies from the Electric Vehicle Council.
Improving warehouse efficiency
A simple step to reduce warehouse emissions include
switching to energy efficient lighting and space heating
and cooling. There are also significant opportunities inrefrigeration in cool storage settings.
Warehouses and cold stores can also start their journey
to improved energy management by benchmarking theirenergy performance with a NABERS Energy rating for
Warehouses and Cold Stores.

Calculated averages from the NABERS dataset as of January 2020; based on a 15,000m2 office building in Sydney CBD, rated over 50 hours.
Calculated averages from the NABERS dataset as of January 2020; based on a 6,400m2 office tenancy in Sydney CBD, rated over 40 hours.
16 
US Department of Energy n.d., All-electric vehicles.
14 
15 

18

19

AUTOMATION PROVIDES EFFICIENCYGAINS IN THE REMOTE CORNERS
OF A TASSIE FARM

BOTHWELL, TASMANIA
Will Bowden is a fifth generation farmer managing thefamily’s 15,000 hectares of farmland in Bothwell, Tasmania.
With large parts of the farm needing irrigation, Will’s father
and grandfather designed watering systems that takeadvantage of its slopes to reduce energy use.
Will continues to run the farm with the same spirit ofinnovation, setting up catchment dams and installing smart
monitoring devices to capture data and maintain systems
across the property.
For example, moisture probes and flow meters detectchanges to water levels so there’s no unnecessary pumping.
Will has even set up his own hydroelectric station on thefarm to power the equivalent of around 300 homes, and has
recently made enhancements so it turns on automaticallywhen it detects enough water pressure.
For Will, not having to spend time driving to a particular partof the farm to adjust an irrigation system or restart the hydrosystem has been a game changer.
Will says his efficiency journey wasn’t always smooth sailing.
“I would get to points where I just couldn’t figure out how to
do something, but then I would take a break and look at itwith a fresh set of eyes,” he says.
Now, Will is reaping the rewards of an efficient, automatedfarm where he can focus on introducing more energy
saving measures. It’s a great example of how innovation
and resourcefulness can lead to impactful energy
efficiency gains.

“I WOULD GET TO POINTS WHERE I JUST
COULDN ’T FIGURE OUT HOW TO DO SOMETHING ,BUT THEN I WOULD TAKE A BREAK AND LOOKAT IT WITH A FRESH SET OF EYES .”WILL BOWDE N

20

21

ACCESSING

ADVICEAND

SUPPORT
SMEs can access advice and support at every stageof their energy efficiency journey.

TAX INCENTIVESThe Australian Government offers attractive tax
incentives that can be used to support small businesses
to upgrade energy performance. Businesses can speakwith a tax advisor to understand what’s currently available.
FINANCE OPTIONS
Federally funded energy-specific financing andfunding options.
Two government bodies assist businesses withenergy investments:
1.

The Australian Renewable Energy Agency (ARENA)
provides funding for early-stage innovative energy
technology, supporting businesses to participate
in pilots and trials

2.

The Clean Energy Finance Corporation (CEFC)
finances energy efficiency, electrification andrenewable energy projects directly, and partners withmajor banks to reduce interest margins on loans forenergy upgrades.

ASSET FINANCE
GOVERNMENT GRANTS AND PROGRAMSState-based energy efficiency schemes – such as the
NSW Energy Savings Scheme (ESS) and Victorian Energy
Upgrades (VEU) program – are available to support
businesses investing in energy efficiency projects.
These programs deliver discounts on energy
saving products.

GrantConnect is the centralised location for AustralianGovernment grants. The system contains information thatcan be used to search for new grant opportunities, learn
who has been awarded grants, and watch for future programs.
Businesses can access this resource at grants.gov.au
There are also government websites with information on
funding energy programs and other resources. These include:

ACT

climatechoices.act.gov.au/policy-programs/
energy-efficiency-improvement-scheme

ACT

act.gov.au/cityrenewal/get-involved/actsmart,-save-money-and-be-environmentallyresponsible

NSW

energy.nsw.gov.au/nsw-plans-and-progress/
regulation-and-policy/energy-securitysafeguard/energy-savings-scheme

NSW

energy.nsw.gov.au/business-and-industry

SA

sa.gov.au/topics/energy-and-environment/using-saving-energy/retailer-energyproductivity-scheme

QLD

business.qld.gov.au/running-business/
energy-business

TAS

recfit.tas.gov.au/grants_program/business_
energy_efficiency_schemeSAsa.gov.au/topics/energy-and-environment/using-saving-energy/for-businesses

VIC

energy.vic.gov.au/businesses/victorianenergy-upgrades-businesses

VIC

energy.vic.gov.au/businesses

ANZ has a co-funding finance program with the CEFC,
providing discounted finance on approved clean energy
technology, including energy efficiency technologies
to ANZ small business customers.
For more information visit anz.com.au/
business/loans-finance/buy-vehicles-equipment/
Businesses can learn more about financing
and funding options atenergybriefing.org.au/financing-and-funding-101s

An energy expert can help businesses determine
which financing and funding opportunities are best
suited to their needs.

22

23

ACKNOWLEDGEMENTSDISCLAIMER

ANZ and the EEC would like to acknowledge
the EEC’s members and partners for their ongoingsupport, ensuring the EEC is providing credible guidanceon efficiency, electrification and decarbonisation
to government, industry and consumers.

This communication is intended as thought-leadershipmaterial. It is not published with the intention of providing
any direct or indirect recommendations relating to any
financial product, asset class or trading strategy. The
information in this communication is not intended toinfluence any person to make a decision in relation to afinancial product or class of financial products. It is generalin nature and does not take account of the circumstancesof any individual or class of individuals. Nothing in thiscommunication constitutes a recommendation, invitation,
solicitation or offer by ANZ to you to sell, or buy, receive
or provide any product or service, or to participate in aparticular trading strategy.

ABOUT ANZANZ provides banking and financial products andservices to over 8.5 million retail and business customers,
and operates across close to 30 markets.
ANZ Group Holdings Limited (ABN 16 659 510 791)
is an authorised non-operating holding company underthe Australian Banking Act.
Learn more at anz.com.
ABOUT EECEEC is the peak body for Australia’s energy management
sector. A not-for-profit membership association,
EEC works to:• Drive world-leading policy on efficiency,
electrification and demand flexibility;• Ensure we have the skilled workforce to deliver
Australia’s energy transition; and• Support businesses and households
to rapidly decarbonise.
Learn more at eec.org.au.

All information contained in this communication isbased on information available at the time of publication.
While care has been taken in the preparation of thiscommunication ANZ does not make any representation as
to the accuracy of the information contained in it. Further,
ANZ does not accept any responsibility to inform you of
any matter that subsequently comes to its notice which
may affect the accuracy of the information contained inthis communication. ANZ does not provide any financial,investment, legal or taxation advice in connection with thiscommunication.

FURTHER RESOURCES

For businesses
Navigating a dynamic energy landscape: a briefing
for Australian businesses is designed to cut throughthe noise and help businesses confidently navigate
Australia’s dynamic energy landscape. The sector
spotlights, tax incentives guide and other resources that
accompany the briefing exist to support this aim.
For households
Your Home is an Australian guide to designing, building
or renovating homes to ensure they are energy efficient,
comfortable, affordable and adaptable for the future. It’s
packed full of resources and is designed ‘for everyone.’For everyone
For those looking to find reputable energy and net zeroproducts and services, browsing the EEC’s member list isa great place to start.
You can also find certified professionals andtradespeople by browsing the EEC Professional
Certifications website.
What’s next?
Putting energy efficiency to work for business is the second
report in ANZ and the EEC’s Forgotten Fuel series. The firstreport in the series, Putting energy efficiency to work, waspublished in May 2023. The third report will have a deeper
focus on the benefits of and opportunities for energy
efficiency in households.
For more information:F rom ANZ: email newthinking@anz.com or contact
your ANZ representative; andF rom EEC: email info@eec.org.au.

ANZ, its branches and subsidiaries, their respective directors,
officers and employees, expressly disclaim any responsibility
and shall not be liable for any loss, damage, claim, liability,
proceedings, cost or expense arising directly or indirectly
and whether in tort (including negligence), contract, equity
or otherwise out of or in connection with the contentsof and/or any omissions from this communication to theextent permissible under relevant law.
© Copyright Australia and New Zealand Banking Group
Limited (ANZ ) ABN 11 005 357 522. “ANZ”, ANZ’s logo
and ANZ’s colour blue are trade marks of ANZ. This
communication is published by Australia and New Zealand
Banking Group Limited ABN 11 005 357 522 (“ANZ”) in
Australia, holder of Australian Financial Services Licence
Number 234527.

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This report is current as of May 2024 and the details in it are subject to change.

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Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. AU25004 05.2024