The Clean Energy Finance Corporation (CEFC) will provide up to $9.1 million in finance to the University of Melbourne to assist it in accelerating adoption of energy efficient and renewable energy technologies.
The money will go towards projects including the installation of solar photovoltaics, solar thermal and micro-turbine electricity generation.
Other existing solar installations utilised by the University are a 30kW system at Infrastructure Services, 625 Swanston Street (BN218), a 30kW installation at the Robotic Dairy Facility, Dookie Dairy, and a 48kW BiPV system at Alan Gilbert Building (BN104).
“Australia’s 39 universities make a major contribution to the national economy and to the Australian community,” said CEFC Executive Director – Corporate and Project Finance, Paul McCartney. “Yet they face the ongoing challenges of public budget restraint, intensifying global competition and the need to use cutting edge technologies to meet increasing student expectations.
“Clean energy installations like those being undertaken by the University of Melbourne can help universities meet these challenges through an investment that results in reduced environmental impact, higher productivity and stronger financial performance.”
The University has set a goal of achieving carbon neutrality by 2030 and has so far reduced energy usage per floor area by around 24 per cent since an environmental sustainability strategy was implemented in 2006. Its annual carbon savings have now reached 33,175 tonnes carbon dioxide equivalent; the result of more than 300 projects across University campuses.
The CEFC states it is also looking to assist other Australian universities in achieving increased sustainability and lower power costs through energy efficient and renewable technologies. The CEFC says finance can be structured over a longer term than usually offered by banks, with repayments matched to cost savings gained through the reduction in grid-supplied energy used.
” We see enormous potential for this important economic sector to increase its productivity and economic impact while reducing emissions through the introduction of clean energy technology,” said Mr. McCartney.