Energy audits and upgrades
What is it?
An energy audit focusses on providing actionable energy conservation measures to reduce energy consumption and energy bills. There are three levels of energy audits, as detailed by the Energy Efficiency Council.
What are the costs?
Costs can range from a few hundred dollars for a basic energy audit, up to a full scope 3 audit inclusive of recommended projects in a large manufacturing business, which may cost up to $20,000.
Sustainability Victoria has a full list of accredited auditors in Victoria.
What will an energy auditor recommend?
The audit will recommend energy and cost saving projects. Some will be inexpensive, while others may be large projects of many thousands of dollars.
Recommendations are costed and the projected savings will be calculated by the energy auditor, along with the expected return on investment.
Sustainability Victoria has some worked examples of common projects for different industries and the associated savings.
What else should I know about and look for?
Electricity smart meters allow all Victorians to have access to their electricity consumption data to help them make informed decisions.
This will help you understand electricity consumption, patterns and anomalies as well as assisting to determine the viability of major projects such as solar and/or energy storage.
Governments are regularly providing grants for energy efficiency upgrades. View current grants and programs information.
There is also the Victorian energy upgrade program which provides subsidies for the installation of some energy efficient equipment.
There are many types of finance available. Some are highly complicated, whilst others rely on traditional mortgage backed finance.
It’s worth speaking with a finance professional to understand what works best for your business.
Sustainability Victoria has an overview of some of the types of finance offered. Yarra Council also offers access to Environmental Upgrade Finance.
Environmental Upgrade Finance
Yarra Council is offering access to Environmental Upgrade Finance (EUF) to assist businesses with financing commercial building upgrades to improve environmental performance. Upgrades can include:
- The installation of solar panels
- Solar hot water systems
- Equipment upgrades
- Waste water systems
- And other energy management solutions
Under an EUF agreement, lenders provide a long-term loan to a building owner for the upgrades, Yarra City Council collects the repayments through our rates system and passes them on to the lender.