Mixed Greens: Smarter homes could save Victoria billions by Sophie Vorrath

A new report has estimated that Victoria could save $2.5 billion if the Baillieu government delivers on its election promise to improve the average energy efficiency of the state’s housing stock to five stars. The report, “2.5 billion reasons to invest in efficiency,” from the One Million Homes Alliance shows that raising one million homes across the state from 2 to 5 stars would result in these more efficient homes using less energy, and as energy concessions are calculated on a percentage basis they would reduce in line with each household’s lower bills.

Damien Moyse, the Alternative Technology Association’s energy policy manager who undertook the study, said such a reform would see savings delivered to the state budget from year one, with a minimum of nearly $100 million saved by year five, and at least $600 million by year 10 – "all whilst providing a long-term solution to alleviate energy poverty and save energy and water," he said. Environment Victoria's Mark Wakeham said that, currently, nearly two million homes across Victoria were 2 stars or less, with many of this number occupied by low-income residents. "By raising the efficiency of just half of these homes to 5 stars we’ll improve comfort levels and quality of life for millions of people, save $2.5 billion, and we’ll deliver environmental outcomes," he said. "It’s a win-win-win.”