The New South Wales government announced on Monday a new grants program backed by $1 million to assist businesses investigate the feasibility of switching to more energy efficient heat pump technology.
Electric heat pumps are used across a wide array of sectors and applications, from generating industrial process heat, providing commercial space heating, heating recreational pools, and hot water for commercial laundries.
The new Heat Pump Feasibility Grants program will provide up to $30,000 to cover 75 per cent of the cost for businesses to conduct studies into the cost savings and other benefits of going electric.
“These grants are a fantastic opportunity for businesses to take a serious look at how energy-efficient heat pumps can improve their operations,” said Rana Juppin, director of the state department of climate change, energy, the environment, and water (DCCEEW).
“By providing funding for feasibility studies, we’re empowering businesses to make smarter, more informed decisions that benefit both their bottom line and the environment.”
Switching to heat pump technology has the potential to help significantly reduce energy costs while also reducing exposure to otherwise volatile fossil fuel gas prices.
According to the DCCEEW, electric heat pumps are dramatically more efficient than a more traditional gas boilers, which might boast a maximum efficiency of 90 per cent, compared to the efficiency of heat pumps which can exceed 400 per cent.
The new grants, open to businesses in New South Wales that use between 5,000 and 100,000 gigajoules (GJ) of gas per site each year (as well as meeting other eligibility criteria), will help fund feasibility studies to explore the potential benefits for businesses switching to electric heat pumps.
Such feasibility projects would include initial screening to identify potential barriers to heat pump installation at the site, heat pump design options, and a detailed feasibility study to assess if a heat pump is the right technology for the site.
To apply, and read further eligibility criteria and funding guidelines, businesses should visit https://www.energy.nsw.gov.au/heat-pump-feasibility-grant
