Market Update | 6 September

• Strategic Review of VEU Program open for consultation
• CCA finds renewables the key to meeting 2050 targets
• National Roadmap released to improve quality of housing stock

VEU consults on Strategic Review.

On Tuesday this week, the Department of Energy, Environment and Climate Action (DEECA) invited consultation on the Strategic Review of the Victorian Energy Upgrades (VEU) Program.

Aimed to ensure the program is fit-for-purpose and designed to fully support the Victorian Government’s objectives on electrification, energy affordability, emissions reduction targets, and reliability, industry stakeholders have been invited to provide feedback.

‘No-uclear’: 2050 targets will not be met with nuclear, renewables to be prioritised (CCA).

Under its recently-released Sector Pathways Review, the Climate Change Authority (CCA) has modelled renewables as the key to Australia meeting its 2050 decarbonisation targets.

Large-scale wind and solar are scoped to combine with widespread electrification, as the phase-out of oil, gas and coal is completed by 2035.

The review also included a recommendation that leveraging existing technologies and infrastructure is “far more efficient and effective than waiting and hoping that bigger breakthroughs will do all the work”.

National Roadmap to improve quality of housing stock released.

The Australian Housing and Urban Research Institute has released a report outlining a roadmap for the improvement of the building quality of our national housing stock, including;

• a national strategy to improve residential building quality should be developed
• mandatory disclosure of dwelling energy performance could improve how markets consider the performance of houses offered for sale or lease
• more appropriate accounting methods of the benefits provided by improved housing standards are needed.

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.