How the scheme works for businesses
The Energy Savings Scheme provides financial incentives to businesses for the implementation of commercial lighting upgrade projects.
Those incentives are energy savings certificates for every megawatt hour (MWh) of electricity you save from the lighting upgrade activities. Businesses work to implement this kind of projects with voluntary participants, known as Accredited Certificate Providers, and certificates are created. Energy savings certificates can then be sold to mandatory participants, known as Liable Parties, with prices depending on supply and demand.
The benefits of making your business more energy efficient
Investment in lighting upgrade is one of the most economic ways to reduce your environmental footprint. Efficiency projects that may be marginal on a cost/benefit basis from power savings alone may become attractive with the additional income from energy savings certificates.
How the scheme works for householders
The Energy Savings Scheme provides incentives for accredited businesses (known as Accredited Certificate Providers) to help householders acquire up-to-date energy efficient equipment, such as LED lighting.
Accredited Certificate Providers may offer equipment to householders at a reduced cost. The energy savings are transferred from the householder to the accredited business, which then creates energy savings certificates.
Some energy savings activities are specific to the residential sector. As part of these programs you could be visited by representatives of an Accredited Certificate Provider with an offer to replace equipment in your house.
The benefits for householders
Saving electricity has several benefits for households:
– lower power bills
– reduced electricity use without cutting the benefits you get from equipment that uses electricity
So you’ll still enjoy all the convenience of electricity, but at a lower cost.