Australia needs to electrify 500 homes every day and triple the pace of retrofitting non-residential buildings to meet its 2050 target of net zero operational carbon emissions, a new Green Building Council of Australia report shows.
Funding the change – which also includes boosting the energy efficiency of 100 homes each day and accelerating the retrofitting of commercial property to 3.5 per cent of stock annually from the current 1 per cent – will cost as much as $4.6 billion a year, the council says.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
