A new report, “2.5 billion reasons to invest in efficiency”, shows that the Baillieu Government could save $2.5b on concession payments if it delivered on their election commitment to improve the energy efficiency of the state’s housing stock to five stars for at least 1 million existing homes.
The report was prepared by Alternative Technology Association for the One Million Homes Alliance, made up of environmental and social justice NGOs.
According to Mark Wakeham of Environment Victoria who represents one of the members of the Alliance,
“Currently nearly two million homes across the State are 2 stars or less, and many of these are occupied by Victorians on a low income. 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 – it’s a win–win–win.”