The $72 million package includes $24.5 million for upgrades to more than 20,000 rental homes for energy efficient lighting, heating, and hot water systems to help low-income renters to save up to $400 a year.
A further $35 million will help businesses reduce their energy costs with the installation of energy efficient equipment that will help track their energy use.
Local councils will also receive funds to upgrade energy-guzzling street lights with LEDs. This will lead to $22 million in energy bill savings by 2035.
Premier Gladys Berejiklian said cutting energy bills is a top priority for the Government.
“These energy bill relief measures are part of the NSW Government’s continuing efforts to help families and businesses with energy costs,” Ms Berejiklian said.
Minister for Primary Industries Niall Blair said these equipment upgrades will help manufacturers save on average $80,000 a year on their energy bills. In addition, around 1300 businesses will be provided with world-leading energy advice and training.
“Not only will this benefit individual businesses but also the wider economy as it means business owners will have more money to invest in growing their firms and employing more workers,” Mr Blair said.