Mirvac to build energy-efficient houses; gets $90m CEFC funding

Australian developer Mirvac will build three new energy-efficient, master-planned residential communities. The Clean Energy Finance Corporation (CEFC) is providing $90 million in debt funding.

The communities will include more than 300 family homes, of three and four bedrooms, each with built-in solar and battery storage systems, as well as high-grade insulation, LED lighting and energy-efficient appliances.

The ready-to-operate 5.1 kW rooftop solar systems, paired with 10 kWh battery systems, will provide residents with a clean energy alternative sufficient to meet up to 90% of a typical household’s energy consumption. The communities are subject to final development approval.

Construction is expected to commence later in 2018, subject to planning approvals, with the first homes ready for purchase and occupation by late 2019. Mirvac will provide further project details as the planning approvals are finalised across the master-planned communities.

CEFC CEO Ian Learmonth said: “The CEFC’s finance will mean this clean energy technology is already included in the homes during construction, at no additional cost to the home buyer. This will deliver significant and ongoing long-term benefits to families and residents.

“Australian homes have an average lifespan of almost 50 years. By incorporating renewable energy and energy efficiency measures from day one, these new homes can provide a lifetime of lower energy costs and lower carbon emissions for their residents.

When we use solar energy alongside battery storage and other clean energy technologies, we can significantly cut household reliance on grid energy, giving home owners more control over their energy consumption and their carbon footprint, he said.

While residential buildings account for as much as half of all emissions produced across Australia’s built environment, home owners are increasingly proactive in switching to clean energy technologies to save energy and reduce emissions. The Clean Energy Regulator registered a surge in new residential solar PV in 2017, with an average 9500 rooftop panels installed every day, coinciding with an increased preference for larger capacity systems.

According to Bloomberg New Energy Finance, Australians invested in more than 1 GW of new rooftop solar in 2017 — adding the equivalent of a small-scale coal-fired power station to the nation’s energy supply. Home battery installations also increased substantially, with an additional 3147 systems installed in 2017.

But even with these increases, only 18% of Australian homes have rooftop solar, and only 0.1% are benefiting from battery storage.

CEFC Property Sector Lead Chris Wade added, “Our goal is to see these built-in sustainability measures become the ‘new normal’ for Australian homes as part of our broader efforts to encourage net zero carbon buildings.

“As a key part of this investment, we will work with Mirvac to monitor energy use and track energy savings, so we can share insights into the positive impacts of these technologies on day-to-day energy consumption. We see this as building the foundation of an ongoing relationship with Mirvac to enhance clean energy standards in the residential housing sector.”

 Image credit: ©stock.adobe.com/au/scanrail