Canberra has a strong and vibrant renewable energy sector. They achieved their 100% renewable electricity target in 2020. Yet there is more to do, and they need your help. Funding may be available to support your renewable energy innovation for a brighter future. Applications for the Renewable Energy Innovation Fund (REIF) grants program are now open.
The ACT has developed a national and international reputation as a renewable energy innovation cluster, with world-leading capabilities.
The Renewable Energy Innovation Fund was established with $12 million contributed by industry commitments associated with the ACT Government’s first and second wind auctions.
The REIF aims to:
• support renewable energy companies based in the ACT
• attract new ventures to the ACT
• develop new research and trades training opportunities
• support the development of a renewable energy ecosystem.
Their aim is to achieve their shared vision of Canberra as a place of opportunity for clean energy research, innovation and investment. They’re driving the ACT’s renewables energy innovation expertise and net zero emissions future. They want new business models and innovation to solve clean energy challenges and accelerate the uptake of clean energy initiatives.
It is an important part of their commitment to clean energy.
The REIF supports:
• Grants funding – to support businesses to develop and commercialise innovative renewable energy and clean technology solutions.
• Trades training innovation – to establish world-class training facilities and programs for wind, solar and distributed battery storage installation. This will build on initiatives such as the Renewable Energy Skills Centre at the Canberra Institute of Technology.
• Energy research partnerships – to develop the capability of the ACT’s research institutions to provide applied research services to renewable energy and energy storage businesses. A Battery Storage and Grid Integration Program at the Australian National University is one of these funded partnerships.
• Energy innovation ecosystem – to provide networking opportunities to new and existing renewable energy and energy storage businesses in the ACT.
• Technology demonstration – to showcase innovative technologies, build industry capacity and reduce deployment costs in renewable energy and energy storage. Two funding streams are available.
The Program is open to businesses with expertise in clean technology innovation.
A lead organisation seeking a REIF Grant must:
1. Have an Australian Business Number (ABN).
2. Hold all insurances required by law, including $10 million public liability insurance and workers compensation.
3. Be an ACT based organisation, OR the majority of the proposed funded activities must occur within the ACT.
4. Have satisfactorily acquitted all outstanding grant milestones, reporting requirements, and obligations, including financial acquittals for previous REIF funding or any other ACT Government agency grant.
5. Be able to demonstrate a contribution to the ACT achieving net zero emissions by 2045. Generation, transport, or green hydrogen projects must be based entirely on renewable resources.
6. Be registered for the Goods and Services Tax (GST) if applicable (if turnover is greater than $150,000 per annum).
7. Be able to achieve all project milestones within three years of commencement.
8. Be able to demonstrate the minimum 1:1 matched funding contribution. Co-contributions can include in-kind contributions, higher cash contributions will be viewed favourably during assessment.