Joint media release: More energy-efficient apartments to save renters energy bills

The Hon Chris Bowen MP, Minister for Climate Change and Energy
The Hon Jenny McAllister MP, Assistant Minister for Climate Change and Energy, Senator for New South Wales
Sally Sitou, Member for Reid

The Albanese Government is helping to create more energy-efficient rental homes to lower energy bills and ease the burden on households’ budgets.

Today’s $7 million additional commitment by the Clean Energy Finance Corporation takes the Government’s investment in energy efficiency for Mirvac’s ‘build-to-rent’ projects to $75 million, increasing the number of energy-efficient apartments in their portfolio to around 2,200.

These LIV build-to-rent projects by Mirvac will aim for a minimum 7.5-star Nationwide House Energy Rating Scheme (NatHERS) rating and operate with no carbon emissions.

A 7.5 star home is on average 77% more efficient to heat and cool than a 2-star home.

Today's announcement reaffirms the governments support for energy-efficient homes in Olympic Park and Melbourne CBD, adding to those being developed across Melbourne (Albert Fields and Docklands) and Brisbane (Newstead) that offer tenants long-term leases with no security deposit, the freedom to decorate their homes, and energy bill savings. 

Today’s announcement comes on top of the $1.3bn commitment to energy saving upgrades in the Budget which will help more than 110,000 households lower their energy bills.

Minister for Climate Change and Energy Chris Bowen emphasized the importance of making energy-efficient homes available to renters.

“The Albanese Government wants all Australians to be able to save on energy, and save on bills, not just those who own their own home.

“Improving energy-efficiency in these apartments is crucial in cutting power bills over the long-term for renters and today’s announcement adds to the $1.7 billion in energy saving upgrades for homes, businesses and communities in the budget.”

Assistant Minister for Climate Change and Energy Senator Jenny McAllister said the Albanese Government wants to make every watt count for homeowners and renters alike.

“Australia’s residential houses and apartments are responsible for around 23% of overall electricity use and 11% of total carbon emissions nationally,” said Assistant Minister McAllister.

“Our government wants to make homes more comfortable to live in and cheaper to run, all while lowering emissions.”

“Improving energy-efficiency for those in strata is essential to making sure that we can all benefit from a more renewable future with lower energy costs and lower emissions,” said local Member for Reid Sally Sitou.