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Energy Efficiency Loans Saving $4m A Year

Public sector agencies are cutting CO2 emissions by 20,300 tonnes a year and slashing energy costs by $4 million annually, thanks to funding from a government energy efficiency loans scheme.

Energy Minister Pete Hodgson said the CO2 and energy savings were being achieved by central and local government agencies in the Crown Energy Efficiency Loan scheme, run by the Energy Efficiency and Conservation Authority (EECA).

"The energy reductions are saving taxpayers and ratepayers over $4 million a year," Mr Hodgson said. "Since it began the scheme has reduced public sector energy costs by $27.4 million.

"This is a very good example of the value of energy efficiency and of why the Government must continue to take a leadership role in this area."

The energy savings are the equivalent of taking more than 3,500 houses off the national grid and account for 2% of public sector energy costs.

"The CO2 savings are the equivalent of taking over 8000 cars off the road and in light of our Kyoto climate change goals, annual savings of that magnitude are extremely valuable," said Mr Hodgson.

EECA’s Crown Energy Efficiency Loan scheme has invested $12.7 million since 1989 to fund 160 energy saving projects in the cental and local government sector. The average loan totals just $80,000.

Most of the funding has gone to the education and local government sectors. Ten loans worth $982,680 were made in the last financial year to public sector organisations. The average payback for these loans is 3.2 years.

Ends

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