Leading developer Mirvac is planning communities in Brisbane and Sydney where new homes aimed at first and new home buyers will have built-in solar-plus-battery systems that are expected to reduce household energy costs by as much as 90 per cent.
Homes in the Mirvac developments will each come with a ready-to-operate 5.1kW rooftop solar system, alongside a 10kWh battery system. The three to four-bedroom homes will also incorporate high-grade insulation, LED lighting and energy efficient appliances.
Construction is expected to commence later in 2018, subject to planning approvals, with the first homes ready for purchase and occupation by late 2019.
Australian homes have an average lifespan of almost 50 years. By incorporating renewable energy and energy efficiency measures from day one, these new homes can provide a lifetime of lower energy costs and lower carbon emissions for their residents.
The CEFC is committing up to $90 million in debt finance as part of Mirvac’s broader financing of the masterplanned communities. The locations will be confirmed following final development approval.
The CEFC investment demonstrates how existing and proven technologies can be used to transition the economy to net zero emissions in the second half of the century.
As a key part of the investment, the CEFC and Mirvac will monitor energy use to provide insights into the positive impacts of these technologies on day-to-day energy consumption.
The CEFC and Mirvac will also be able to track the energy savings that can be achieved by adopting such an integrated approach to clean energy technologies.
The CEFC finance for the Mirvac developments is part of its Sustainable Cities Investment Program, which is aiming to invest $1 billion into clean energy initiatives in Australian cities over 10 years.