Boosting Energy Efficiency and Savings for NSW Homes: A $206 Million Initiative

In a significant move towards making homes more energy-efficient, and energy savings upgrades more affordable, the Albanese and Minns Governments have joined forces to launch a $206 million package. This initiative will benefit over 30,000 households in New South Wales, focusing on social housing properties and extending access to solar energy for low-income renters and apartment residents.

Prime Minister Anthony Albanese emphasises that “Saving energy means saving money, which is why we’re continuing to deliver cost of living relief for families that need it most without adding to inflation.” The $206 million package aims to provide upgrades for 30,000 households, promoting cleaner, cheaper energy for all Australians.

Improving Energy Efficiency in Social Housing: A $175 Million Investment

Many social housing properties in the country lack basic insulation and modern appliances, making them among the least energy-efficient homes. Recognising the need for change, the Commonwealth and New South Wales Governments are jointly providing matched funding of $87.5 million over four years. 

This funding will enable the upgrade of over 24,000 homes, offering improvements such as heat pump hot water systems, ceiling fans, reverse-cycle air conditioners, solar systems, insulation, and draught proofing.

Upgrading an average house from a 1-star rating to a 3-star rating can lead to a 30% reduction in energy consumption and a subsequent decrease in power bills. Priority will be given to the least energy-efficient properties, often older homes built before minimum construction standards, and locations experiencing extreme heat and cold.

Minister for Climate Change and Energy, Chris Bowen, underscores “Critical energy upgrades in social housing properties and strong solar energy incentives for apartment block residents across NSW will deliver cleaner, cheaper energy to more Australians.” The government aims to make cleaner, cheaper energy accessible to more Australians through these initiatives.

Making Solar Accessible: A $30 Million Investment

In addition to energy efficiency upgrades, $30 million is also being invested to ensure that low-income households and apartment residents can benefit from renewable energy. This initiative, known as the ‘Solar Banks’ program, will provide rebates of up to 50% of rooftop solar installation costs for multi-unit dwellings.

The Solar Banks initiative addresses the needs of those unable to install or afford onsite rooftop solar. Eligible individuals can receive a subsidy to purchase a portion of a ‘solar garden’ in a large-scale solar farm. More than 10,000 households stand to gain from this program, potentially saving up to $600 annually.

Community Renewable Energy Projects: A $1 Million Boost

To further support the transition to cleaner, cheaper energy, an additional $1 million will be invested in community renewable energy projects on the Far South Coast. This funding fulfils the Australian Government’s election commitment and aims to create local jobs while delivering cleaner and more affordable energy to local communities.

Continued Energy Bill Support: $500 Rebates for 1.6 Million Households

Premier Chris Minns expresses the government’s commitment to helping NSW residents with the cost of living, highlighting the importance of investing to save money while getting the state’s energy transition back on track. “We are proud to partner with the Albanese Government to deliver cheaper, cleaner energy to some of the least energy efficient houses in the country.”

These initiatives come in addition to the ongoing joint Commonwealth-NSW energy bill rebates. Up to 1.6 million eligible households are receiving $500 to help pay their electricity bills.

NSW Minister for Climate Change and Energy Penny Sharpe highlights the collaboration with the Commonwealth to roll out vital upgrades, emphasising “The Minns Government is investing in social housing through long overdue energy efficiency upgrades to improve equity in the energy transition.”

Ecovantage supports this new initiative and all other steps towards energy efficiency. We look forward to seeing the roll out of these new programmes across New South Wales, and hope that other states soon follow suit.