Low-interest loans to provide affordable energy for manufacturers

• $153.3 million Made in WA Energy Affordability Investment Program (MEAIP) to assist businesses to decarbonise
• MEAIP created in response to key issues raised at Trade and Economic Resilience Roundtable
• Low-interest loans of up to $15 million to support businesses investing in energy efficient equipment, commercial solar, and industrial batteries
• Part of Cook Government's efforts to keep Western Australia's economy the strongest in the nation

The Cook Government will help to make energy more affordable for local manufacturers through the new $153.3 million Made in WA Energy Affordability Investment Program (MEAIP), ensuring Western Australia remains the best place to live, raise a family and get a quality job.

Created in response to the number one issue raised at last year's Trade and Economic Resilience Roundtable, the MEAIP will improve the competitiveness of WA manufacturing.

While the government has made a range of investments in projects which will deliver WA's energy transition - including new transmission, onshore wind farms, and utility-scale and household batteries - the MEAIP will help businesses to immediately access the benefits of low-cost renewable energy and battery storage.

The program will give businesses access to low-interest loans of up to $15 million to invest in equipment which will make energy more affordable.

This includes:

• commercial solar and industrial batteries;
• acquisition of energy efficient advanced manufacturing technologies or machinery;
• technologies which improve automation and smart resource usage; and
• workforce training to support the implementation of the above technologies.

Increased uptake of this equipment will allow businesses greater access to affordable energy and support the electricity grid, putting downward pressure on energy prices and supporting the government's Made in WA plan.

By adding more battery storage to the grid and smoothing peaks in demand, households and industry more broadly will also benefit from this plan.

Comments attributed to Premier Roger Cook:

"We want to grow manufacturing in Western Australia.

"By manufacturing businesses embracing renewable energy, storage, and more energy efficient processes, it will put downward pressure on the price of producing what they produce, making WA-made products more affordable for WA consumers, and more competitive for export markets.

"If it's made by Western Australians, it can be supported by our new Made in WA Energy Affordability Investment Program.

"This program builds upon the immediate success of our WA Residential Battery Scheme, which is permanently slashing the energy bills for households around the State."

Comments attributed to Energy and Decarbonisation and Manufacturing Minister Amber-Jade Sanderson:

"Our government's investment in big batteries and household battery storage is already putting downward pressure on household energy prices.

"By helping local manufacturers access industrial batteries, as well as other energy efficiency, we will continue to ease cost pressures for Western Australian households while creating jobs and diversifying the State's economy."