Australian property owners, from residential to large-scale commercial, will be able to start cutting energy costs and reduce emissions thanks to a new guide released by the Clean Energy Finance Corporation.
The guide has been designed to drive an industry-wide understanding of the opportunity preparation and implementation of clean energy technologies an provide for different types of properties amid rising wholesale energy costs.
The energy policy debate has been at the forefront of national conversation over the past few weeks in the wake of the leadership spill with cost pressures effecting households and businesses around the country.
The CEFC, in collaboration with the Property Council of Australia, have analysed a broad range of proven technologies, from solar PV and batteries to heat pumps and renewables to help homeowners and managers breakdown the likely benefits and payback periods.
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“Our industry leaders have shown they can deliver rapid improvements in the quality and performance of buildings and have taken action to mitigate against rising electricity prices and reduce emissions by investing in clean energy technology,” Clean Energy Finance Corporation chief executive Ian Learmonth said.
For homes, technologies are in the lowest investment range, up to a maximum $25,000, with upfront costs expected to be recovered in under nine years.
While investment costs for large-scale commercial and retail properties can exceed $100,000, in the case of solar PV the payback period is four years.
The highest upfront investment costs, potentially of more than $500,000, included thermal storage installations for commercial, retail and industrial buildings with an expected payback period of 15 years.
“We want to make smarter, cleaner energy the standard when it comes to Australia’s built environment,” Learmonth said.
“We’re confident that with more renewable energy and better energy efficiency measures, the property sector can achieve net zero emissions by 2050, with the potential to capture very significant energy savings in the process.”
Earlier this year, the CEFC made a $150 million investment in New Zealand-based asset manager Morrison & Co to help spearhead clean energy standards across Australia.
Morrison & Co’s specialist $1 billion "green" infrastructure fund will acquire and manage a range of assets ranging from hospitals to data centres, retirement and aged care accommodation to student housing and renewable energy.
The CEFC also secured a 30 per cent interest ($50 million) in Mirvac’s first institutional build-to-rent investment platform as a cornerstone investor.
