The CEFC is increasing its support for cleaner, greener homes, with a new green home loan to spearhead the construction of market leading, energy efficient housing.
Bank Australia is the first home loan provider to take up the CEFC finance, which will deliver discounted interest rates to qualifying builders and home buyers.
The Bank Australia Clean Energy Home Loan, available from January 2020, will draw on up to $60 million in CEFC finance, providing the interest rate discount via its Premium Package Home Loan to mortgages below $1.5 million.
The Bank Australia offering applies to a broad range of homeowners – from buyers and people looking to build a new home, to existing owners.
ASBEC and ClimateWorks Australia have identified potential energy savings as high as 25 per cent through the adoption of higher energy efficiency standards in new residential buildings.
The benefits would flow from measures such as improved air tightness, double glazed windows, insulation, adjustable outdoor shading, ceiling fans and more efficient air conditioning, lighting and domestic hot water systems.
The upfront costs of energy efficiency inclusions would be more than offset by lower energy bill, reduced spending on heating, cooling and ventilation equipment, and savings to the electricity network.
New homes built today will be in use for decades to come. The goal is to equip those homes with the strongest energy efficiency to deliver the smallest carbon footprint possible.
Preliminary economic modelling undertaken by ASBEC and the CSIRO has found that investing in voluntary measures to accelerate Australia’s transition to sustainable homes by 2030 would deliver more than half a billion dollars of extra investment in the construction industry; create over 7,000 new jobs and save Australians more than $600 million on their energy bills.
Read our handy fact sheet for more information.
Please note: The CEFC does not provide finance to individual borrowers and is not involved in individual financing decisions. Interested borrowers should contact Bank Australia directly.
National, Property, Housing, Renewable energy, Low emissions, Energy efficiency