Green home loans support people buy or build energy efficient homes
Home green home
The CEFC has supported the development of cleaner, greener homes by creating an innovative green home loan product to spearhead the construction of market-leading, energy efficient housing.
We’re proud to reward people who choose to make their homes more sustainable through our Clean Energy Home Loan. Working in partnership with the CEFC means we can bring this innovative new product to market sooner and help more Australians.Damien WalshManaging Director, Bank Australia
Bank Australia was the first home loan provider to take up the CEFC finance, which it drew on to deliver discounted interest rates to qualifying home buyers and borrowers. The finance was suitable for both new homes and for energy efficient upgrades to existing homes. The initial CEFC commitment of $60 million in 2020 was extended by a further $30 million in 2021 in response to strong customer demand from Bank Australia customers.
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 airtightness, 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 bills, reduced spending on heating, cooling and ventilation equipment, and savings to the electricity network.
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.
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CEFC invests in first green home loan
The CEFC has supported the development of cleaner, greener homes by creating an innovative green home loan product to spearhead the construction of market leading, energy efficient housing.Read more