Early budget announcement for small business

The Tasmanian Government will invest $1.8 million into helping businesses become more energy efficient.

Minister for Energy and Renewables, Nick Duigan, was at the Mt Nelson Medical Centre this morning to announce the funding which will be part of tomorrow’s budget announcement.

“We know that high inflation and interest rates continue to put significant costs on the Tasmanian community and Tasmania’s small businesses which is why the budget includes a focus on assisting with energy costs,” minister Duigan said.

“The Budget will include a new Energy Efficiency Audit Grants Program, following our commitment in the election campaign.

“This program will provide grants of up to $1000 for a small business towards conducting an energy efficiency audit.

“This new measure will help increase energy efficiencies in businesses, saving money in operational costs with the added benefit of helping to reduce emissions.

“The outcomes of audits will help provide recommendations to the business to then pursue, either through their retailer or making new investments through the Energy Saver Loan Scheme, which provides interest-free loans for energy efficient improvements up to $10,000.

The Energy Saver Loan Scheme has already provided more than $40 million in interest free loans since it started, to both small business and households, including the Mt Nelson Medical Centre which installed solar panels.

Tasmanian Small Business Council executive officer Rob Mallet said that energy is usually the third highest cost for businesses after rent and wages.

“The initiative coming in the budget, will help educate people so they know what energy usage their appliances have in their business and then get the solar and other energy efficiency facilities to reduce the cost of doing businesses, is a fantastic outcome.”

Gas and electricity supplier Solstice Energy has welcomed the energy support for small businesses, with CEO of Solstice Energy, Phaedra Deckart, saying that the program comes at a time when price stability and energy reliability are top concerns for Tasmanian consumers, including small businesses.

However she urged the government to consider the future potential in renewable gases for Tasmania.

“It is crucial for governments to broaden their investment in renewable energy options beyond electricity and hydrogen,” she said.

“Government support is needed to ensure a diverse mix of energy sources, including biomethane, which holds significant potential for Tasmania’s renewable gas future. Just as wind and solar power received early investment to become commercially viable, other alternatives like biomethane require similar backing.”

A full analysis of the State Budget and business stories from around the state will appear from in the Tasmanian Business Reporter magazine available at your local Chamber of Commerce office or online at https://tinyurl.com/4brj8w3m from September 13.