New energy efficiency standards could save NSW investors $980 annually
The NSW government recently announced the implementation of new sustainability requirements that could save households up to $980 per year on energy expenses while also lowering the state’s carbon impact.
This can be achieved through the newly created Building Sustainability Index (BASIX), described by the NSW government as a “key assessment tool that ensures new homes are comfortable to live in regardless of the temperature, are more energy-efficient, and save water”.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
As a result of the new BASIX requirements, energy bills are predicted to drop significantly, and these are the projected annual savings:
- $190 for people living in high-rise apartments
- $850 for people living in new Western Sydney houses, and
- up to $980 for people living in new houses in the regions.
Rob Stokes, Minister of Planning and Public Spaces, stated that the present BASIX requirements had averted 12.3 million tonnes of greenhouse gas emissions over the past 17 years, which is comparable to taking 2.5 million automobiles off the road.
“These proposed increases in standards will see more energy-efficient homes from Double Bay to Dubbo and beyond, with better design, better insulation, more sunlight and more solar panels,” Mr Stokes said.
The NSW government is in this for the long haul, as Mr Stokes added: “We want to lift BASIX standards even higher to drive down emissions further, saving another 150,000 tonnes a year and helping to achieve net-zero emissions by 2050.”
By 31 January 2022, the community is encouraged to submit feedback on the proposed BASIX amendments.
More from this writer:
-
Construction costs reach highest level since GST implementation
-
10 economic powerhouses boasting strong property markets
-
20 Perth suburbs with the most impressive turnarounds post-pandemic
-
Mixed bag for home values as Australia shifts to multi-speed market
-
The basic principles that can become a 31-property portfolio
-
Most expensive and most affordable rental suburbs in Australia’s capital cities
-
What’s the likely outcome of a cash rate hike for investors?