ARENA funding welcome, but time to start up jobs machine says EEC

ENERGY EFFICIENCY experts have welcomed the Federal Government’s announcement this week of $1.6 billion in funding for ARENA, and $52 million for energy efficiency programs.

“The government’s commitment of $1.6 billion to ARENA – and expanding its remit to cover energy efficiency and energy management – is the right move. It shows the Government has heard our message that ARENA needs to be backed in so it can continue its important work. And the broadened remit will give ARENA the ability to take on some of the big innovation challenges of the coming decade,” said Luke Menzel, CEO of the Energy Efficiency Council.

The Federal Government also announced funding for new and existing programs that will help businesses and households save energy and reduce their bills, including:

• $12 million to help small hotels and pubs save energy;
• $12 million to help community organisations lower their energy bills;
• funding for existing energy efficiency efforts, including programs that give consumers;
• information on the energy efficiency of buildings before they buy or lease; and
• $94 million to help businesses in the agriculture, manufacturing, industrial and transport sectors to adopt technologies that increase productivity and reduce emissions through a Technology Co-Investment Fund.

Council CEO Luke Menzel welcomed this funding, but said that the Federal and State governments were yet to grasp the big opportunity to drive a jobs boom through energy efficiency stimulus.

“These are sensible measures, but there is more to do," Mr Menzel said. "We can drive a jobs boom in energy efficiency by upgrading schools, hospitals and public housing, helping manufacturers to cut their energy bills; and supporting households and businesses to save energy in their buildings.

“That’s the course recommended by the International Monetary Fund (IMF) and the International Energy Agency (IEA), who say governments should invest in energy efficiency for economic stimulus as it is the MOST jobs-rich field, far ahead of traditional sources of energy.

“Put simply, energy efficiency is a jobs machine. It is time to start it up.”

Construction and manufacturing jobs created per million dollars of capital investment in the Sustainable Recovery Plan

The Special Report on Sustainable Recovery, produced by the IEA in partnership with the International Monetary Fund, includes a comprehensive analysis of energy related stimulus options. Energy efficiency in buildings – both retrofits and new builds – topped the charts.

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