From this week, selected customers of the National Australia Bank (NAB) who are applying to refinance or increase their mortgage will be invited to participate in a new energy rating trial for existing homes, led by the Australian Government.
Participants in the trial will receive an assessment of their home's energy performance, offering insights into opportunities for improvements that could help reduce energy costs over time.
The initiative is part of the government's effort to expand the Nationwide House Energy Rating Scheme (NatHERS) to existing homes. This scheme is designed to assist homeowners in identifying cost-effective upgrades to enhance their home's comfort while lowering energy consumption.
NAB Chief Climate Officer Jacqui Fox expressed the bank's commitment to the initiative, stating, "Cost of living pressures are still looming large for so many people which is why we’re thinking creatively about how to help Australians save money." Fox noted that energy bills are often scrutinized by consumers seeking ways to reduce expenses, and upgrading a home can be challenging because it is difficult to know where to begin.
"This initiative will help simplify the process by providing participants with practical recommendations such as improving insulation, installing energy efficient appliances, solar, batteries, window coverings, and draught proofing," Fox added.
The trial will evaluate the tools and processes for assessing the energy efficiency of existing homes before a planned national rollout later in the year. Each assessment is scheduled to coincide with a property valuation, lasting approximately 30-60 minutes. Participants will receive a trial energy rating certificate in addition to suggested improvements for their home's efficiency. The trial will involve assessments of around 800 properties belonging to NAB customers.
Further details regarding the trial can be found at https://www.nathers.gov.au/Trials.