On June 21st, Singapore’s Ministry of Finance announced the new Energy Efficiency Grant. The grant will assist SMEs in the food services, food manufacturing, and retail sectors with up to 70% financial support for energy-efficient equipment, after approval, in certain categories. The general aim of the grant, therefore, is to provide funds to local firms in select sectors and enable lower energy bills amid rising electricity costs.
The grant will cover energy-efficient equipment in categories such as LED lighting, air-conditioners, cooking hobs, refrigerators, water heaters, and dryers. The cap is at USD 30,000 per company.
“The grant will support firms to improve their energy efficiency and alleviate increasing business costs due to increased energy prices,” the ministry added.
(Source: The Strait Times)