The commercial building sector contributes around 10% of Australia’s annual emissions and consumes 25% of Australia’s electricity. A significant portion of buildings anticipated to be standing in 2050 have already been built.
Retrofitting older buildings will be critical to Australia reaching carbon neutrality. The Australian Government is providing a $30 million loan to a 25-year-old commercial office building demonstration project in Brisbane’s CBD.
The makeover is expected to halve the building’s greenhouse gas emissions, for a potential 5.5 star rating under the National Australian Built Environment Rating System (NABERS). This would be an achievement in excess of many newly built properties.
The retrofit to the 10-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, renewables and conservation technologies and practices.
The Hon Tim Wilson MP, Assistant Minister to the Minister for Industry, Energy and Emissions Reduction, said this investment is an example of the government’s technology-focused approach.
‘Refurbishments include installing energy efficient heating, ventilation and air conditioning, solar panels and battery storage, and façade thermal imaging improvement.’
CEFC Joint Head of Property Michael Di Russo said, ‘This project provides an opportunity to inform the standards we look to drive across the sector and serves as a beacon for other asset owners in this space who are looking to reposition their assets to attract tenants.’