Cashback Rewards Program for business FAQs
Cashback Rewards for business offers funding to eligible small, medium and large businesses that install or upgrade equipment and/or appliances that lower onsite peak electricity demand.
For more information visit our Cashback Rewards for business web pages.
What is Cashback Rewards for business?
The Cashback Rewards for business initiative offers rewards to businesses, in eligible areas, that implement programs to reduce peak electricity demand at their site.
Demand reduction solutions that your business may implement include:
- Heating, Ventilation and Air-Conditioning (HVAC) upgrades or replacements
- Lighting upgrades or replacements
- Motor upgrades or replacements
- Refrigeration upgrades or replacements
- Power Factor Correction (PFC)
- Demand Management Systems (or Building Management Systems)
We understand that every business is different. Contact our team to discuss the unique demand management programs that may benefit your business environment.
Why is Energex giving financial rewards to customers to reduce their demand?
In most cases, it's more cost effective for us to provide rewards to reduce demand than to build more electricity network. Learn more about peak demand here.
Is every business eligible to receive rewards?
No. To be considered for Energex rewards, your business must meet the following criteria:
- Your business must be located in an eligible suburb. If your business isn't in an eligible suburb, but you're upgrading or installing air-conditioning, see if you're eligible for a PeakSmart reward.
- You must start an application before work commences, and the application must be submitted by a company employee. This should be a suitable person of authority, relevant to the project.
- For PFC rewards only: you must have a Type 4 meter installed.
I have recently completed an upgrade which reduced my demand. Am I still eligible for a reward?
No, all applications for rewards have to be sighted and approved by us before the work/upgrade has been completed.
Once I know my business is eligible for rewards, how does the application process work?
Once you've confirmed that your business meets the eligibility criteria, the application process is broken into three parts.
Part 1 – Submit an application for reward
You'll be required to complete an application form with the details of the upgrades you plan to make. You'll then be contacted to advise if your application is successful and to let you know the reward amount you're eligible for.
Part 2 – Your application is approved, what happens now?
- Once we've been in contact with you (Part 1) you'll need to complete the work within the agreed timeframe.
- Once the work is finalised, you'll then need to complete another form with further details of the upgrade work.
- When you submit this form, you'll need to include proof the work is complete and a tax invoice to claim your reward amount.
- Once your application is received, we'll then review your application and assess whether the work completed meets our requirements. We will then contact you to advise if your application is successful or if your funding amount has been approved or amended.
Part 3 – Payment transfer
If your application is successful, we'll pay your reward via EFT (Electronic Funds Transfer) into your nominated bank account.
What size reward could I receive?
The reward amount can vary per eligible area and the solution being implemented. Funding is paid as a dollar amount per kilowatt (kW), per kVAr for PFC or kVA for larger and more complicated demand reduction projects.
Once again, every business is different – and every reward is tailored to your individual circumstances. To learn more about the dollar amount your business may be eligible for, find your suburb in the eligible areas list.
Could my reward be amended during the implementation of my solution?
The reward can differ from the maximum amount appearing on your application if the measured reduction in demand hasn't been met.
If I can’t complete the work required in 90 days, can I reapply?
Yes, you can reapply or extend your application if the timeline has expired.
How does Energex determine an eligible area?
The suburbs that are selected have been identified as requiring future network upgrades. Our goal is to try and reduce electricity demand to defer projects that could be scheduled to happen in these areas.
Why are there different rewards available for different eligible areas?
Eligible areas may be allocated different amounts. These are calculated taking into account the urgency to defer network upgrade projects and cost considerations.
How often does Energex update the eligible areas?
At the moment, this is assessed on a bi-annual basis, as required by the Australian Energy Regulator.
My business isn’t located in an eligible area. Can I express interest for my suburb to be considered as a future eligible area?
Funding areas are assessed bi-annually. If your suburb doesn't appear on the list you can check again at the beginning of each financial year.
You can also register your interest by emailing our Cashback Rewards for Business Team at firstname.lastname@example.org.
How does Energex measure and verify energy solutions implemented at my business?
Our measurement processes and criteria depend on the type of solution you're implementing at your business.
Nameplate rating is one way to measure and verify, i.e. if a business replaces a 20kW motor with a 15kW motor, that business has taken 5kW off their maximum demand permanently.
Or, if a 50 watt light is replaced with a 10 watt light, 40 watts has been taken off their maximum demand. When that light is turned on, the most electricity demand that can be drawn is the wattage on the bulb.
Other products that don't provide nameplate ratings may require additional metering to measure the demand reduction.
How is power factor measured?
Power factor is measured through readings from your electricity meter and reported as a value between 0 and 1.
How much will it cost to install PFC equipment?
The amount of PFC equipment needed will vary depending on your existing demand, power factor and the desired power factor you'd like to achieve. Your PFC equipment supplier will be able to calculate the capacity required for your site and provide a quote.
What is the typical payback period of PFC equipment?
The payback period will vary depending on individual factors. Some PFC installations have resulted in a payback period of less than a year and many can be paid back in less than two years. It is advisable to consider all calculations before committing to a PFC upgrade and to seek advice from a PFC expert.
How can I find out more about PFC?
There is a list of PFC suppliers and installers on the Energex web site but other companies do operate in the market place.