Businesses will have another five weeks to apply for funding to help them to investigate the feasibility of switching to energy-saving heat pump technology.
The NSW Government is extending the closing date for the $1 million Heat Pump Feasibility Grant to November 24, giving companies extra time to secure the right experts and collect the necessary information to help them put their best application forward.
Transferring to energy efficient alternatives like heat pumps can help businesses lower energy costs, reduce exposure to volatile fossil fuel prices and cut carbon emissions.
The Heat Pump Feasibility Grants provide up to $30,000 to cover 75 per cent of project costs to support heat pump feasibility studies.
These studies empower businesses to make informed decisions about adopting heat pumps. Specialist consultants assess the potential for heat pumps to provide a practical and cost-effective solution and provide expert guidance.
Projects include:
- initial screening to identify barriers to heat pump installation at the site
- heat pump design options informed by energy data
- detailed feasibility study to assess if a heat pump is the right fit for the site.
Heat pumps offer efficient solutions across diverse sectors and applications from generating industrial process heat and providing commercial space heating to recreational pool heating and laundry hot water.
Electric heat pumps are far more efficient than gas boilers, using significantly less energy and producing fewer carbon emissions.
While a gas boiler might be 90 per cent efficient, a heat pump can exceed 400 per cent efficiency.
By understanding the potential benefits of heat pumps through feasibility studies, businesses can make informed decisions about upgrading heating and cooling systems, ultimately contributing to a more sustainable future and lower operating costs.
The funding is open to businesses in NSW that use between 5,000 and 100,000 gigajoules (GJ) of gas per site annually and meet other eligibility criteria.
It is part of the NSW Government’s $22 million Business Decarbonisation Program that helps businesses make simple low-cost improvements and take practical steps to accelerate the shift towards net zero emissions.
NSW DCCEEW director for capacity building and market development, Rana Juppin, said the deadline was extended to help maximise the uptake of grants.
“Building on the energy savings already achieved by pilot participants, we hope this grant will support more businesses to explore cost saving options and make informed investment decisions,” Juppin said.
“I want to thank all businesses who have applied for funding. I look forward to seeing the results from this great initiative.”
To apply, visit www.energy.nsw.gov.au/heat-pump-feasibility-grant