01 Dec Victoria Invest $797M to Access the Latest Energy Efficiency Program
Victoria, Australia – 17 November 2020 – The Victorian government has proclaimed a $747M energy efficiency package to elevate and beef up the energy efficiency all across Victoria to make it even more accessible to all the households, including the low-income families.
The new announcement made by the Victorian Government will allocate $797 million, which will lay the foundation for a better energy upgrading scheme, especially for the low-income households and shabby rental properties by keeping $447 million of expenditure in particular. This notable program also earmarks $14 million for the further expansion of Victorian Energy Upgrade (VEU), followed by a further $336 million for revamping the inadequate-heating-efficient properties, as well as revitalizing the energy efficiency in all the new houses. Besides, a $250 energy bill rebate for the job seekers will also fit in this $336M expense.
The ESIA (Energy Savings Industry Association), together with the Victorian Government has relentlessly worked to design this efficiency program that oversees the businesses that will be on service in the provision of energy upgrades to 250,000 low-income families, as well as improvement of 320,000 terrible quality rental properties. According to the president of ESIA, Rod Wooley, “Victoria’s jump on energy efficiency Covid-19 recovery policy addresses a myriad of reasons why people don’t priorities energy upgrades, as well as a much-needed cash injection for short-term bill stress in very challenging times.”
Out of $447 million, a hefty amount worth $335 million will go into the funding for installing new energy-efficient systems in lieu of the older systems, such as wood, electric, or gas-fired radiators. According to D’Ambrosio, energy minister for Andrews Labor Government, this particular amount will suffice for 250,000 households to save almost $300 to $900 a year on their energy bills. Furthermore, for 35,000 rental properties, the remaining $112 million will be put up for sealing the windows & doors, improving the heating & cooling quality, and installing the hot water systems.
This much-awaited energy efficiency program has also flourished the VEU, formerly known as Victorian Energy Efficiency Target (VEET), committed to replacing the low-efficient poor-quality products with more energy-efficient appliances to cater to your electricity bills, with $14 million more funding to allow the Victorians to derive its benefits. VEU has been bolstered even more for being a part of this energy-efficient program for rendering its rebate programs to even more people – creating even thousands of jobs for the unemployed people indeed.
As the president of ESIA, Rod Wooley thinks,” A VEU 2022-2025 target announcement before Christmas cannot come soon enough for households and tradespeople alike. Victorians are champing at the bit to upgrade air conditioners, hot water and home weather sealing to prevent hot and cold weather extremes and draughts that contribute significantly to home comfort and safety.” This prompt attempt taken by the Andrews government will surely put the energy consumption to a low level while improving the lifestyles and living conditions to a healthier state for all sorts of people ranging from high-income to low-income people.
Interestingly, part of $336 million is yet to be used for retrofitting and revitalizing the previously rental properties to a 5-star infrastructure followed by introducing 7-star efficiency standards for all the recently built homes. The effects of $336M will also permeate into allowing the concession cardholders, such as job seekers, youth allowance, or pension payments receivers receive a one-off payment of $250 “direct bill relief.” This will be a phenomenal advantage for desperate people like these job seekers who may also take advantage of any rebates in the future once the best deal of this package is sorted through.
It is deemed that the $797M program to upgrade the energy efficiency in every Victorians’ household is no short of the most crucial scheme to get us an inch far from accomplishing Victoria’s net zero emissions targets for 2050. It is true that the likelihood of VEU 2022-2025 is less of implementation in near soon, but the benefits of the recent energy efficiency program are more of a blessing to the Victorians, which will ensure a better saving in the curated bills for the victims of “working-from-home” during Covid-19 alongside creating the best designed well-adorned electric efficient houses in Victoria.