Major Australian and New Zealand retailers are primed for an energy switch following millions of dollars in federal funding to decarbonise their services.
Wesfarmers, who own shops like Officeworks, Bunnings, Kmart and Coles will finance rooftop solar, battery storage, a vehicle smart charging pilot and other efficiency initiatives across stores.
This comes from a $100 million commitment from government-backed Clean Energy Finance Corporation, labelled Australia’s specialist climate investor.
It means Wesfarmers will be able to manage energy consumption across its retail sites and make them more efficient through storage.
These installed or upgraded facility changes are expected to be in effect by the end of 2025.
“We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment,” Wesfarmers CFO Anthony Gianotti said.
A study to accelerate decarbonisation across stores will also be undertaken under the funding envelope.
Adopting these initiatives is a “practical and speedy” way to cut the organisations carbon footprint, the climate investor’s CEO Ian Learmonth said.
“Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities,” he said.
“At selected sites they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning.”
Australia’s retail sector accounts for 50 per cent of energy use in the commercial property sector and five per cent of the nation’s greenhouse gas emissions.
Batteries, virtual power plants and electric vehicles can reduce grid demand through co-ordination of their charging and discharging, the Australian Energy Market Operator said.
Federal energy minister Chris Bowen said the partnership will drive down emissions and lower energy costs, while providing knock-on benefits to households.
“This boost in finance by the Clean Energy Finance Corporation will accelerate Wesfarmers’ efforts to reduce its carbon footprint, make the shift to cleaner and cheaper energy and better manage energy use,” he said.
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