Earlier today the Victorian Legislative Council Passed the Local Government Legislation Amendment (Environmental Upgrade Agreements) Bill 2015. The legislation had been approved by the lower house and with today’s passage through the upper house, will now become law.
This is good news for businesses outside central Melbourne as it will enable other local governments throughout other parts of Victoria to offer funding mechanisms to unlock efficiency and renewable energy project outcomes at business premises. The City of Melbourne has been running EUAs for years.
Tenanted buildings particularly benefit as a three way agreement creates a win-win for tenant and landlord, when installing solar PV, cogen, trigen HVAC upgrades, lighting upgrades, boiler and chiller upgrades etc.
Enhar provides our expertise to clients to understand opportunities in all these areas and our feasibility reports build business cases for energy upgrades. These projects have an increasing number of financing options available, including the roll out of EUAs, making the initial investment easy.