{"id":3404,"date":"2020-10-09T16:42:24","date_gmt":"2020-10-09T05:42:24","guid":{"rendered":"https:\/\/www.wattly.com\/?p=3404"},"modified":"2021-07-28T06:53:47","modified_gmt":"2021-07-28T06:53:47","slug":"energy-savings-big-win-federal-tax-cuts-energy-efficiency","status":"publish","type":"post","link":"https:\/\/northmoregordon.com\/news\/energy-savings-big-win-federal-tax-cuts-energy-efficiency\/","title":{"rendered":"Energy Savings Big Win &#8211; Federal Tax Cuts + Energy Efficiency Programs"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3404\" class=\"elementor elementor-3404\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6946b134 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6946b134\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-191cda18\" data-id=\"191cda18\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-492bff2 elementor-widget elementor-widget-text-editor\" data-id=\"492bff2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Energy efficiency equipment payback drastically reduced.\u00a0 The payback period for many capital equipment purchases can be drastically reduced (40% or greater).\u00a0 Be it Boilers, Chillers, HVAC, UPS, Motors, VSD, Compressors and Blowers.<\/p>\n<p>The Federal Budget announced on the 6th of October that nearly all businesses will be able to\u00a0<a href=\"https:\/\/www.ato.gov.au\/General\/New-legislation\/In-detail\/Direct-taxes\/Income-tax-for-businesses\/JobMaker-Plan---temporary-full-expensing-to-support-investment-and-jobs\">fully deduct capital equipment purchases<\/a>\u00a0in operation by June 2022.\u00a0If you couple this with the state based energy savings scheme (NSW, ESS, VIC, VEU) then a business can substantially reduce their energy costs, and achieve a much shorter payback.\u00a0 With the added bonus of the higher reliability and lower maintenance that comes with new equipment.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ecf228 elementor-widget elementor-widget-image\" data-id=\"1ecf228\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"317\" src=\"https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/boiler-landscape-crop-wattly-pty-ltd-scaled-1-768x317.jpeg\" class=\"attachment-medium_large size-medium_large wp-image-22583\" alt=\"\" srcset=\"https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/boiler-landscape-crop-wattly-pty-ltd-scaled-1-768x317.jpeg 768w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/boiler-landscape-crop-wattly-pty-ltd-scaled-1-300x124.jpeg 300w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/boiler-landscape-crop-wattly-pty-ltd-scaled-1-1024x422.jpeg 1024w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/boiler-landscape-crop-wattly-pty-ltd-scaled-1-1536x634.jpeg 1536w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/boiler-landscape-crop-wattly-pty-ltd-scaled-1-2048x845.jpeg 2048w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1fc50e20 elementor-widget elementor-widget-text-editor\" data-id=\"1fc50e20\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><\/p>\n<p><\/p>\n<p>Take for example the upgrade of a 6MW Gas-Fired Steam boiling is using say 45,000 GJ PA at recent prices of say $11.00 per GJ and hence $500,000 PA in gas charges.\u00a0 The upgrade to a new high efficiency boiler with economiser, O2 trim could cost around $800,000.\u00a0 The efficiency gains from moving from a 30 year old boiler to a modern one could be as high as 30%, but we\u2019ll use a 25% reduction in gas usage for this example and hence annual gas savings of 11,250 GJ PA. Prior to the Federal Budget (and after June 2022) a new boiler asset would need to be depreciated over 20 years.<\/p>\n<p><\/p>\n<h4 class=\"wp-block-heading\">The figures for the new boiler commissioned by June 2022 are as follows<\/h4>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li>Immediate tax writeoff 30% x $800,000 = $240,000<\/li>\n<li>Compared with tax write off over 20 years = $12,000 per annum\u00a0<\/li>\n<li>Energy Saving Certificates = $110,000<\/li>\n<li>Capital Costs (after tax writeoff and certificates)\n<ul>\n<li>$800,000 &#8211; $350,000 = $450,000<\/li>\n<\/ul>\n<\/li>\n<li>Annual Gas Savings of $11.00 x 11,250 = $124,000<\/li>\n<\/ul>\n<p><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ae9e52b elementor-widget elementor-widget-text-editor\" data-id=\"ae9e52b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4>Compare the three scenarios<\/h4>\n<p>No tax cuts &amp; not claiming environmental certificates<\/p>\n<ul>\n<li>Simple payback = $800,000 \/ ($124,000 + $12,000) = 5.9 years<\/li>\n<\/ul>\n<p>Using tax cuts &amp; not claiming environmental certificates<\/p>\n<ul>\n<li>Simple payback = ($800,000 &#8211; $240,000) \/ $124,000 = 4.5 years<\/li>\n<\/ul>\n<p>Using tax cuts &amp; environmental certificates<\/p>\n<ul>\n<li><strong>Simple payback = ($800,000 &#8211; $240,000 &#8211; $110,000) \/ $124,000 = 3.6 years<\/strong><\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5058486 elementor-widget elementor-widget-text-editor\" data-id=\"5058486\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Hence by performing the upgrade with the new Federal Budget changes reduces the outlay by more than 25% and brings down the payback period substantially. Also be aware that with the changes that allow companies to offset future losses against past profits for the financial years of 2020-2022 means that you can\u00a0<a href=\"https:\/\/www.ato.gov.au\/General\/New-legislation\/In-detail\/Direct-taxes\/Income-tax-for-businesses\/Loss-carry-back\/#:~:text=Eligible%20corporate%20entities%20with%20less,and%202020%E2%80%9321%20financial%20years.\">carry back losses<\/a>\u00a0(ie the capital cost) to reduce last year&#8217;s tax bill as well.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e21edb elementor-widget elementor-widget-image\" data-id=\"2e21edb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"513\" src=\"https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/scott-graham-OQMZwNd3ThU-unsplash-768x513.jpeg\" class=\"attachment-medium_large size-medium_large wp-image-22582\" alt=\"\" srcset=\"https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/scott-graham-OQMZwNd3ThU-unsplash-768x513.jpeg 768w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/scott-graham-OQMZwNd3ThU-unsplash-300x200.jpeg 300w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/scott-graham-OQMZwNd3ThU-unsplash-1024x683.jpeg 1024w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/scott-graham-OQMZwNd3ThU-unsplash-1536x1025.jpeg 1536w, https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/scott-graham-OQMZwNd3ThU-unsplash-2048x1367.jpeg 2048w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02c865f elementor-widget elementor-widget-text-editor\" data-id=\"02c865f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<figure class=\"wp-block-image size-large is-resized\"><\/figure>\n<p>Boilers are one asset type that uses a large amount of energy and has the potential to save substantial energy, but the same applies to many other equipment upgrades that will drive substantial energy savings.\u00a0 Consider these aging assets for replacement by using the immediate tax depreciation and\u00a0<a href=\"https:\/\/www.wattly.com\/government-schemes\/nsw-energy-saving-scheme-ess\/\">NSW Energy Saving Scheme<\/a>\u00a0or\u00a0<a href=\"https:\/\/www.wattly.com\/government-schemes\/veet-scheme-victorian-energy-efficiency-target\/\">Victorian Energy Upgrades<\/a>\u00a0to drive much short payback periods.<\/p>\n<ul>\n<li>Gas-fired Steam Boilers in Industrial process<\/li>\n<li>Gas-fired Hot Water Boilers for Commercial Buildings<\/li>\n<li>Chillers for Commercial HVAC<\/li>\n<li>UPS and CRAC upgrades for Data Centres<\/li>\n<li>Air Compressor upgrades<\/li>\n<li>Variable Speed Drives for large motors and fans (very fast payback)<\/li>\n<li>Warehouse and Orchard Coolroom upgrade\u00a0<\/li>\n<li>Installation of Large Scale Solar PV in Victoria under the VEU<br \/><br \/><\/li>\n<\/ul>\n<p>All these assets can claim\u00a0<a href=\"https:\/\/www.wattly.com\/government-schemes\/\">energy savings certificates<\/a>\u00a0using the Measurement and Verification methods under the different state-based schemes as well as under the Australian Carbon Farming Initiative (Carbon Solutions Fund).<\/p>\n<p>Image courtesy of: couriermail.com.au<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Energy efficiency equipment payback drastically reduced.\u00a0 The payback period for many capital equipment purchases can be drastically reduced (40% or greater).\u00a0 Be it Boilers, Chillers, HVAC, UPS, Motors, VSD, Compressors and Blowers. The Federal Budget announced on the 6th of October that nearly all businesses will be able to\u00a0fully deduct capital equipment purchases\u00a0in operation by&#8230;<\/p>\n","protected":false},"author":1,"featured_media":21265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[99,17,52,63,54],"class_list":["post-3404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-business","tag-energy-efficiency","tag-energy-savings-scheme-ess","tag-government-scheme-update","tag-veet-scheme"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.3 (Yoast SEO v25.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Energy Savings Big Win - Federal Tax Cuts + Energy Efficiency Programs - Northmore Gordon<\/title>\n<meta name=\"description\" content=\"The Federal Budget announces that nearly all businesses will be able to fully deduct capital equipment purchases in operation by June 2022\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/northmoregordon.com\/news\/energy-savings-big-win-federal-tax-cuts-energy-efficiency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Energy Savings Big Win - Federal Tax Cuts + Energy Efficiency Programs\" \/>\n<meta property=\"og:description\" content=\"The Federal Budget announces that nearly all businesses will be able to fully deduct capital equipment purchases in operation by June 2022\" \/>\n<meta property=\"og:url\" content=\"https:\/\/northmoregordon.com\/news\/energy-savings-big-win-federal-tax-cuts-energy-efficiency\/\" \/>\n<meta property=\"og:site_name\" content=\"Northmore Gordon\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-09T05:42:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-28T06:53:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/northmoregordon.com\/wp-content\/uploads\/2020\/10\/Energy-Savings-Big-Win.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"753\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Northmore Gordon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Northmore Gordon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/northmoregordon.com\/news\/energy-savings-big-win-federal-tax-cuts-energy-efficiency\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/northmoregordon.com\/news\/energy-savings-big-win-federal-tax-cuts-energy-efficiency\/\"},\"author\":{\"name\":\"Northmore Gordon\",\"@id\":\"https:\/\/northmoregordon.com\/#\/schema\/person\/5137bdba33b546db5c60fa1015d2e727\"},\"headline\":\"Energy Savings Big Win &#8211; 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