Federal and NSW State Governments have jointly unveiled a $206 million package aimed at funding energy-saving upgrades and expanding access to solar power.
In a collaborative effort to alleviate cost-of-living pressures for tens of thousands of NSW households, both governments have committed $87.5 million each over four years for energy-saving improvements to more than 24,000 properties across the state.
Social housing properties, often ranking among the least energy-efficient homes, are considered in this initiative to alleviate cost-of-living pressures for tens of thousands of NSW households.
Upgrading these homes from a 1-star to a 3-star energy rating can reduce energy consumption by 30 per cent, leading to decreased power bills.
The funding will facilitate upgrades such as heat-pump hot water systems, ceiling fans, reverse-cycle air conditioners, solar systems, insulation, and draught proofing.
Priority will be given to older, less energy-efficient properties and those in extreme heat and cold locations.
Additionally, the Albanese government has earmarked $30 million to assist low-income households and apartment residents in funding rooftop solar installations or gaining access to a portion of a solar garden community energy plot.
The Solar Banks program is expected to benefit around 10,000 households, potentially reducing power bills by up to $600 annually by allowing households to buy the share of a medium-scale solar farm.
Prime Minister Anthony Albanese emphasised the government’s commitment to providing clean, affordable energy to all Australians.
“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,” Albanese said.
“We want all Australians to have access to cleaner, cheaper energy. Renewable energy for social housing helps power bills and is good for the environment.”
Premier Chris Minns highlighted the importance of addressing the cost of living, making it a top priority for NSW as the state’s energy transition is brought “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,” Minns said.
Energy Minister Chris Bowen said Labor was helping those currently left out of energy efficiency and renewables “reap the rewards of the clean energy transformation”.
“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,” he said.
According to Labor, a further $1 million will be invested in community renewable energy projects on the far south coast, aligning with Labor’s election commitment.
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