The energy efficiency industry has congratulated the New South Wales Government for a major expansion of its world-leading Energy Savings Scheme, which incentives homes and businesses to purchase and install energy efficient products.
Eligible energy efficiency activities generate certificates based on how much gas or electricity they save.
The NSW Government announced changes to significantly expand the scheme in October, whereby incentives will been extended to users who save gas, in addition to electricity.
Energy Efficiency Council chief executive officer Luke Menzel said the change is critical to help homes and businesses deal with the recent increase in Australian gas prices, and estimated homes and businesses will save up to $8.2 billion off energy bills.
The NSW Government has extended the scheme to 2025, providing more certainty to industry. The government also ramped up the target by 70 per cent, increasing the target from 5 per cent to 7 per cent in 2016 and progressively to 8.5 per cent by 2019.
“Expanding the scheme will create jobs throughout the state and help homes and businesses save energy. The scheme makes it cheaper for homes to cut drafts and install efficient lights, hot water systems and appliances,” Mr Menzel said.