Uni of Melbourne gets $9.1m govt loan for energy projects

The federal government will provide the University of Melbourne with $9.1 million in financing to help fund energy efficiency and renewable energy projects.

The government’s Clean Energy Finance Corporation will provide the loan to the university.

University of Melbourne will use the funds for projects that could potentially include voltage optimisation, solar power, freezer upgrades and roof-mounted micro wind turbines.

The investment will be made to help reduce the university’s grid electricity use by around 8%, which will translate to substantial reductions in both energy costs and emissions.

Announcing the agreement, Minister for the Environment Greg Hunt said the loan is designed to demonstrate to other Australian universities what can be achieved on campus with energy-efficiency technologies.

“Universities are an integral part of our cities’ infrastructure and in many ways their campuses can resemble mini-cities. Universities are well placed to lead the way on energy productivity and demonstrate innovations in building technology,” he said.

“Most universities have buildings that were built decades ago. Taking action on energy efficiency and putting in place some of the features of modern buildings will help universities save on energy costs.”

The move comes weeks after the opening of Australia’s two largest solar plants, which were partly funded by the Australian Renewable Energy Agency and the NSW Government.

Image courtesy of Travis under CC