The fund seeks to make an environmental difference by providing funding for solar energy projects to help Small and Medium Enterprises reduce their carbon footprint. The fund also aims to provide finance to local developers and installers in order to increase employment opportunities in the renewable energy industry in Australia.
The annual equivalent impact of the AUD$20,000,000 Solar Fund will be equivalent to providing one of the following benefits:
1. Preventing 3,760 tons of waste being sent to landfill;
2. Preventing 24,396 barrels of oil being consumed;
3. Saving 8,598 acres of forests in on year;
4. Powering 958 homes with clean solar energy for one year;
5. Taking 2,028 cars off the road;
6. Stopping 11,281,774 pounds of coal being burnt.
IRIS metrics are used as part of impact measurement portfolio, along with other social and environmental performance metric systems.