The ACT Greens will today commit $50 million to create and leverage a ‘Just Transition Fund’ that will cut energy bills and make homes and businesses more energy-efficient, focused on low-income households, renters and other vulnerable groups.
Properties will receive funding for sustainability and energy-efficiency measures such as solar panels and batteries, draft sealing, insulation, glazing, efficient electric appliances, and water-saving measures.
A no-interest loan scheme will also be established to support landlords to upgrade their rental properties to meet improved energy efficiency standards, creating more affordable and comfortable rental properties across the city.
Funding for these upgrades will save Canberrans money on their energy bills, make homes warmer in winter and cooler in summer, all while creating jobs in Canberra’s rapidly developing green industries.
The $50 million fund will seek to leverage capital from the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (ARENA), and will utilise reverse auctions for the most cost-effective solutions.
The Greens expect the extensive retrofitting program to create some 840 new jobs in the ACT and protect existing jobs in the trades sector, supporting more workers to upskill, while delivering numerous additional flow-on economic benefits.
As stated by ACT Greens leader Shane Rattenbury:
“Climate change is the biggest threat our society and our planet collectively face, yet some groups will be more impacted than others. People on low incomes often can’t afford to heat or cool their houses – an issue compounded by the poor energy efficiency of Canberra’s older and cheaper housing.
“As we look to create a climate-ready Canberra for all of us, the Greens won’t leave anyone behind.
“Our $50 million Just Transition Fund will ensure that renewable electricity is affordable for everyone, buildings and homes are retrofitted to be sustainable and climate change ready, and more people are employed in the green economy.
“The more Greens there are in Government, the more we can deliver on climate change, reduce the gap between the rich and the poor, and protect our precious natural environment.”
The full details of the package can be found at → greens.org.au/act/just-transition