Fund encourages lower-emissions technology
Businesses are being encouraged to adopt innovative technology that cuts greenhouse gas emissions in a funding round announced by Energy and Resources Minister Megan Woods today.
The funding support is offered as part of the Technology Demonstration programme run by the Energy Efficiency and Conservation Authority (EECA).
“This Government has an ambitious goal of net-zero carbon emissions by 2050. To help us achieve that, we want to do more to promote new technologies that will help reduce carbon emissions as well as saving energy.
“This funding round introduces new criteria to encourage larger scale projects tackling process heat – the hot water and heating systems used in manufacturing and other processes. Process heat accounts for 38% of New Zealand’s energy use, with 72% of this from non-renewable sources such as coal.
“Along with transport, reducing our use of fossil-fuelled process heat offers one of the most effective ways for New Zealand to reduce its climate change emissions.
“Innovative technology, such as high temperature industrial heat pumps, has often already been commercialised overseas but is underused in New Zealand. The new funding criteria will help early adopters work through the risks and benefits, leading the way for wider uptake,” says Megan Woods.
To qualify for funding, projects must reduce energy intensity or greenhouse gas emissions, have potential to be replicated on a large scale, and be financially viable, with a reasonable payback period.
Businesses can apply for up to 40% of a project’s cost. The maximum available is $250,000 for process heat projects, and $100,000 for other projects.
Applications to the current funding round are open until Thursday 29 March.
For more information about the fund visit www.eecabusiness.govt.nz/funding-and-support/technology-demonstration-projects/