Councils are increasingly implementing solar, batteries, and energy efficiency projects to cut energy costs and slash emissions. However, regional councils are often restricted by limited sustainability budgets and competing priorities. While grants offer a solution, the administration burden, competition, and co-funding requirement slow progress.
For these reasons, more and more councils are implementing Revolving Energy Funds as an innovative solution to these funding challenges.
What’s a Revolving Energy Fund?
A Revolving Energy Fund (REF) uses seed funding to invest in projects that generate energy and cost savings. The savings are then reinvested back into the fund, which allows for more energy projects to be funded. This process is repeated again and again, creating a continuous cycle of investment and energy savings for councils.
The Challenge
Setting up a REF can seem complicated at first. There are lots of decisions to be made, and it can be overwhelming. This is a common stumbling block for councils when taking their first step towards a REF.
The Solution
Hunter Joint Organisation, Central NSW Joint Organisation, and Mid North Coast Joint Organisation created the ‘Design a REF Kit’ to help your council design a Revolving Energy Fund that works for you.
Here’s what’s included in the Design a REF Kit:
- Design a REF Guide
This easy-to-follow guide takes you through 14 steps to build your own REF in under two hours. There’s even a special finance section to answer any accounting questions. - Design a REF Slide Deck
Just pop this up on the big screen during your workshop and you’re good to go.
How to use this Kit
The Kit works best as a workshop tool. In a 1.5-hour workshop with your key stakeholders, you can build a custom REF for your council.
Bring your key stakeholders together in a workshop. Use the Guide and Slide Deck to work your way through the 14 steps. Fill out the template in the appendix during your workshop to keep track of all the decisions you make for your REF.
If you need help, reach out to the Net Zero Coordinator at your Joint Organisation to facilitate the workshop for you.
Ready to get started? Download the Design a REF Kit now
Click here to download the Design a REF Kit
Click here to download the Design a REF Kit Presentation
Developing this Kit
The Kit was developed following extensive consultation and interviews with the sustainability and finance staff at NSW councils operating successful REFs. Over 10 Revolving Energy Fund policies and guidelines were reviewed to provide councils with a menu of all the different ways they can structure their REF. The Kit was developed for the 13 councils participating in the Revolving Energy Fund Action Group co-Chaired by Lexi Crouch, Kate Barker, and Noam Bardea – Net Zero Coordinators from Hunter JO, Central NSW JO and Mid North Coast JO.
Acknowledgements
The Design a Revolving Energy Fund Kit was developed by Hunter Joint Organisation, Central NSW Joint Organisation, and Mid North Coast Joint Organisation.
Proudly funded by the NSW Government through the Joint Organisation Net Zero Acceleration (JONZA) program.
