The Western Australian Government has announced new low-interest energy loans to help manufacturers and businesses decarbonise.
The $153.3 million Made in WA Energy Affordability Investment Program (MEAIP) will improve the competitiveness of WA manufacturing and help businesses to immediately access the benefits of low-cost renewable energy and battery storage.
The program will give businesses access to low-interest loans of up to $15 million to invest in equipment which will make energy more affordable.
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This includes:
- commercial solar and industrial batteries
- acquisition of energy-efficient advanced manufacturing technologies or machinery
- technologies which improve automation and smart resource usage
- workforce training to support the implementation of the above technologies.
Increased uptake of this equipment will allow businesses greater access to affordable energy and support the electricity grid, putting downward pressure on energy prices and supporting the government’s Made in WA plan.
By adding more battery storage to the grid and smoothing peaks in demand, households and industry more broadly will also benefit from this plan.
Western Australian Premier Roger Cook said, “We want to grow manufacturing in Western Australia.
“By manufacturing businesses embracing renewable energy, storage, and more energy efficient processes, it will put downward pressure on the price of producing what they produce, making WA-made products more affordable for WA consumers, and more competitive for export markets.
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“If it’s made by Western Australians, it can be supported by our new Made in WA Energy Affordability Investment Program.
“This program builds upon the immediate success of our WA Residential Battery Scheme, which is permanently slashing the energy bills for households around the state.”
