The Federal Government has announced a $250 million energy efficiency program to reduce the high cost of heating and cooling in the residential sector.
Announced as part of the government's better cities commitment, the program will help provide affordable energy efficient housing to low income earners.
It will help drive the construction of market-leading energy efficient community housing in 2016, contributing to the greening of Australia’s cities and built environment.
Environment Minister, Greg Hunt, said energy efficient homes could feature double glazing on their windows, or include high quality insulation and ventilation to reduce heating and cooling needs.
"By financing the development of homes which have the latest energy efficient measures built in, we can lower their long term energy needs and also minimise their impact on the environment," he said.
"This is a very practical way to drive down household energy costs, which can make a real and positive difference for low income families.
"With this finance, Australia’s Community Housing Providers will be able to invest in new buildings which use more energy efficient building materials in their construction."
The $250 million finance program is being delivered by the Clean Energy Finance Corporation (CEFC).
The Australian Government had directed the CEFC to focus on cities and the built environment under its new Investment Mandate, which also includes financing emerging and innovative renewable energy technologies as well as energy efficiency.
The CEFC expects this new $250 million Community Housing Program will contribute to the construction of as many as 1,000 new energy efficient homes Australia-wide.
The Australian Sustainable Built Environment Council (ASBEC) welcomed the announcement. ASBEC president Ken Maher said housing is responsible for 13 per cent of Australia’s greenhouse gas emissions.
"This is a good first step towards improving the country’s building stock," he said.