NEPS first step without a transformative national incentive scheme, 5 April 2024
Industry holds out hope the federal government will commit to transformative policy in due course with a national incentive scheme as part of its evolving national energy performance strategy (NEPS) as recommended by the Climate Change Authority.
“Today’s NEPS release isn’t addressing the glaring gap industry is facing now as the small-scale renewable scheme (SRES) winds down to 2030. The SRES is the only national mechanism supporting households, small business, and commercial buildings with upfront financial incentives for energy upgrades including hot water heat pump technologies along with solar and batteries,” said Energy Savings Industry Association President Mr Rod Woolley.
“Without a standalone national energy savings scheme, the SRES needs to be extended and expanded to include more energy efficient upgrades including air conditioning at least.”
Today’s NEPS release including a home energy upgrades fund (HEUF) $1 billion finance pool over four years announced in the May budget provides a windfall for the banks with detail yet to be tested on how households will synchronise access, if they are eligible, with the upgrades their homes most need.
“We need progress reports with transparent evidence of success on how the HEUF is delivering over time. It’s a low interest, not a no interest, program - the latter being a more optimal loan model to maximise uptake and broad access. We look forward to seeing more details from the Clean Energy Finance Corporation (CEFC) which is tasked with approving finance partners and eligible energy upgrade types including rooftop solar and batteries under the HEUF scheduled to launch from 1 July 2024.
“Our members including equipment suppliers and installers are seeking information to understand how they can co-promote available finance to their customers. We look forward to engaging with the CEFC and financiers on this opportunity.
“We commend the federal government for putting energy efficiency firmly on the national agenda and committing billions in budget funding to support households. We welcome commitments to minimum energy performance standards for new technology appliances and disclosure of homes and commercial premises at the point of sale and rental. We welcome continued engagement with the federal government and NEPS team to deliver their commitment to supporting Australian households and businesses to electrify, reduce greenhouse gas emissions and save money on their energy bills,” said Mr Woolley.
The ESIA is advocating for tax incentives for landlords to better support renters who face more barriers than homeowners.
… Ends Media contact: Jessica Lynch, M 0417 539 377, comns@esia.asn.au
References:
Chris Bowen media release: https://minister.dcceew.gov.au/bowen/media-releases/first-national-energy-performance-strategy-ready-take-pressure-energy-bills
NEPS document: https://www.dcceew.gov.au/energy/strategies-and-frameworks/national-energy-performance-strategy
NEPS webpage: https://www.dcceew.gov.au/about/news/launch-of-national-energy-performance-strategy
ESIA Submission: https://esia.asn.au/publications/submissions/esia-submission-national-energy-performance-strategy-consultation-3-feb-2023
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