Retrofitting older buildings will be critical to get Australia to carbon neutrality. The Commonwealth is providing a $30 million loan to a 25-year-old commercial office building demonstration project in Brisbane’s CBD.
The commercial building sector contributes around 10 per cent of Australia’s annual emissions and consumes 25 per cent of Australia’s electricity.
The refurbishment is expected to cut the building’s greenhouse gas emissions in half, aiming to give the building a 5.5 star rating under the National Australian Built Environment Rating System (NABERS) – achieving higher energy standards than many newly built properties.
The sustainability-focused refurbishment to the ten-story office building at 200 Creek Street financed by the Clean Energy Finance Corporation (CEFC) will demonstrate how technology can help reduce emissions.
A number of equipment and building services will be upgraded, including a combination of energy efficiency, renewable energy and energy conservation technologies and practices. Once completed, the upgrades are expected to deliver a 55 per cent reduction in emissions.
Assistant Minister to the Minister for Industry, Energy and Emissions Reduction Tim Wilson said that this investment is another great example of the government’s technology focused approach which has already seen Australia’s emissions reduce by 20 per cent on 2005 levels.
“This refurbishment will demonstrate how improving the energy efficiency of existing buildings will be crucial in helping drive down our emissions and deliver a more sustainable economy,” he said.
“Refurbishments include installing energy efficient heating, ventilation and air conditioning, solar panels and battery storage and façade thermal imaging improvement.”
“The Morrison Government is focused on empowering businesses and households to be part of our journey to carbon neutrality,” Assistant Minister Wilson said.