Establish the Household Energy Upgrades Fund to support home upgrades that improve energy performance and save energy.
The Government will provide $1.3 billion in funding to establish the Household Energy Upgrades Fund to support home upgrades that improve energy performance and save energy. Funding includes:
* $1.0 billion in funding to the Clean Energy Finance Corporation to provide low-cost finance and mortgages in partnership with private financial institutions for home upgrades that save energy Climate Change, Energy, the Environment and Water |
* $300.0 million over 4 years from 2023-24 held in the Contingency Reserve to support upgrades to social housing, in collaboration with states and territories, that save energy
* $36.7 million over 4 years from 2023-24 (and $2.1 million per year ongoing) to develop further initiatives to improve energy performance, including expanding and modernising the Greenhouse and Energy Minimum Standards program and the Nationwide House Energy Rating scheme. The cost of this measure will be partially met from savings identified in the 2023-24 Budget measure titled Climate Change, Energy, the Environment and Water - reprioritisation. This measure extends the 2022-23 October Budget measure titled Support for Energy Security and Reliability.