Energy efficiency funding

New Zealand's Energy Efficiency and Conservation Authority (EECA) announced that it will provide $2 million in funding to expand rollout of energy efficiency initiatives.EECA is a government agency responsible for renewable energy and energy efficiency funding and project implementation, to help New Zealand achieve a stable grid network.

In a press statement, EECA said the $2 million funding aims to help public sector organisations including universities, local councils and hospitals reduce energy usage and costs.

The funding will be released under the organisation’s Crown loan programme.

The Crown loan initiative is designed by EECA to register, provide funding and help organisations implement energy conservation measures.

EECA said it aims to use the $2 million to help the public sector reduce annual energy costs by 20%.

The interest-free loans will help organisations adopt renewable energy sources to reduce carbon emission and excessive power demands on the country’s grid network.

Since 2011, EECA has provided energy efficiency loans to 40 projects resulting in total cumulative savings of $9 million for the public sector and carbon emission reductions of over 5,000 tonnes each year.

Energy efficiency funding

In related news, the Zambian government partnered with the EU to ensure grid reliability through implementation of energy efficiency programmes.

The two parties launched a platform to formulate a roadmap to improve the country’s energy conservation and management through energy efficiency programmes.

Through the programme, measures will be developed to increase energy efficiency funding by both public and private sectors, including the implementation of 14 pilot projects on energy efficiency. The results of the pilots will guide Zambia to deploy the projects on a national scale.

The projects are expected to help consumers in Zambia reduce power usage and costs to help the country address its power deficit challenge.

Zambia has witnessed a decrease in its power generation due to low rains affecting the country's hydro electricity generation.

Participants in the programme include industrial and residential building owners, the tertiary sector and municipalities.

The programme falls under the EU Sustainable Energy for All-Technical Assistance Facility project and will run from this September through to March, 2017. [UK energy efficiency: government policy limiting market growth – report].

In addition, the programme will help the country’s energy department develop a mechanism to evaluate and leverage its energy efficiency measures.

 

Image credit: www.propertyreporter.com.