Energy Saving Scheme : Solar Heaters Support
The "Energy Saver Fund" is a residential energy efficiency grant program funded by the government. The program is administered by the Energy Efficiency and Conservation Authority (EECA). The authority provides projects that are designed to achieve cost-effective improvements in residential energy efficiency with funds. The funding is allocated by competitive tender. The fund includes, for example, direct assistance grants in the form of reduced interest payments for the installation of solar water heaters for low-income family homes. For businesses, the fund can cover up to 100% or a maximum grant of $10,000 of scoping audit costs, up to 50% or $50,000 of a full energy or design audit. Generally grants are limited to 3% of annual energy expenses though. Any public or private organization with a minimum annual energy spend of $100,000 and a minimum building area of 1,000 m² can apply for a grant. However, "Negotiated Greenhouse Agreement" (NGA) signatories are not eligible for funding and only one audit grant will be given to any one organization every three years. For private households, the EECA Finance Assistance Program helps to offset the cost of finance on a loan for a solar water heating unit. EECA contributes up to $300 towards the cost of finance.