The Western Australian Government announced that a new $153.3 million initiative aimed at lowering energy costs for local businesses will strengthen the State’s manufacturing sector and support investments in cleaner, more efficient technology.
According to the WA Government, the Made in WA Energy Affordability Investment Program (MEAIP) will provide low-interest loans of up to $15 million to help manufacturers and other businesses invest in energy-saving equipment, commercial solar systems and industrial battery storage.
The program was developed following feedback from industry at last year’s Trade and Economic Resilience Roundtable, where energy affordability was identified as a key challenge for businesses, including manufacturers.
The government said the loans will also support the purchase of energy-efficient advanced manufacturing technologies and machinery, automation systems that improve resource efficiency, and workforce training to support the deployment of these technologies.
Premier Roger Cook said the initiative is designed to improve the competitiveness of the state’s manufacturing industry.
“We want to grow manufacturing in Western Australia,” Cook said.
“By manufacturing businesses embracing renewable energy, storage, and more energy efficient processes, it will put downward pressure on the price of producing what they produce, making WA-made products more affordable for WA consumers, and more competitive for export markets.”
Cook said the initiative would allow businesses to access the benefits of renewable energy and battery storage more quickly, while supporting the government’s broader Made in WA plan.
“If it’s made by Western Australians, it can be supported by our new Made in WA Energy Affordability Investment Program,” he said.
The government said increased uptake of commercial solar, industrial batteries and energy-efficient equipment could also support the electricity grid by smoothing peaks in demand, which in turn could help place downward pressure on energy prices.
Minister for Energy and Decarbonisation and Manufacturing Amber-Jade Sanderson said the initiative builds on existing investments in energy infrastructure, including battery storage.
“Our government’s investment in big batteries and household battery storage is already putting downward pressure on household energy prices,” Sanderson said.
“By helping local manufacturers access industrial batteries, as well as other energy efficiency, we will continue to ease cost pressures for Western Australian households while creating jobs and diversifying the State’s economy.”
To learn more, visit the Department of Energy and Economic Diversification website for details about the Made in WA Energy Affordability Investment Program.
