Australia’s CEFC and Westpac providing AU$200 million for clean energy in business

Facebook
Twitter
LinkedIn
Reddit
Email
The funds will be used to give customers a 0.7% discount on finance for solar and low emissions projects. Credit: CEFC

Australia’s Clean Energy Finance Corporation (CEFC) and renewable energy financier Westpac are to provide low cost finance for Australian businesses to invest in solar and other low emission technologies.

The AU$200 million (US$146 million) 'Westpac Energy Efficient Financing Program' will be used to give customers a 0.7% discount on finance for qualifying projects, such as solar PV or low emissions vehicles. Westpac will also offer finance leases, commercial loans and commercial hire purchase finance.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The finance, for up to 100% of the project cost, is available for terms of up to 10 years, for individual projects starting at AU$15,000.

Eligible projects include:

  • rooftop and off-grid solar PV
  • battery storage and solar thermal
  • energy efficiency equipment
  • low emissions vehicles
  • projects that upgrade the energy efficiency of buildings
  • energy-from-waste projects
  • projects registered for Australian Carbon Credit Units (ACCUs) under the Emissions Reduction Fund

CEFC chief executive Oliver Yates said: “There are enormous opportunities for businesses to lower their energy costs and improve their competitiveness using clean energy. Using solar and the right energy efficient equipment can have a substantial benefit on business costs, in addition to the obvious environmental gains.

“Access to the discounted CEFC finance being offered through Westpac is a compelling reason to act now to lock in business and environmental benefits.”

Since 2011, Westpac Group has increased the proportion of renewable energy financing from 45% to 61% of its total electricity generation portfolio.

Read Next

July 1, 2025
A five-year research initiative is underway in Australia to test the viability of floating solar systems on irrigation dams.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 26, 2025
PV solar cell manufacturer Halocell Energy has launched its first perovskite-based product called the Halocell Ambient Modules.
June 25, 2025
JinkoSolar has submitted a 133.76MWc solar-plus-storage project in New South Wales to the federal government under the EPBC Act.
June 25, 2025
Australia’s National Electricity Market (NEM) achieved a new record high for solar PV and wind generation at 12,463MW.
June 25, 2025
The New South Wales government has earmarked AU$2.1 billion (US$1.36 billion) for transmission infrastructure to connect its Renewable Energy Zones (REZ) and support utility-scale renewable and energy storage projects.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece