Ren­o­va­tors go green

Money Magazine Australia - - IN BRIEF -

As the cost of elec­tric­ity sky­rock­ets, it ap­pears home­own­ers are look­ing for ways to cir­cum­vent the hit to their hip pocket. Ac­cord­ing to Com­pare the Mar­ket, en­ergy bills could go up by $30-$200 a year by 2018-19, with three of the ma­jor providers al­ready lift­ing rates by up to 19%.

To re­duce costs, more house­holds are in­vest­ing in “green ren­o­va­tions”. Data from peer-to-peer lender RateSet­ter, which has a “green loan mar­ket­place” fa­cil­ity, shows that al­most one in five home im­prove­ment loans are now taken out for green ren­o­va­tions, with bor­row­ers spend­ing an av­er­age of $13,230 a year on en­ergy-ef­fi­cient im­prove­ments. These ren­o­va­tions in­clude the in­stal­la­tion of en­ergy-ef­fi­cient light­ing and al­ter­na­tive power sources, such as so­lar pan­els and bat­ter­ies.

Re­new­able en­ergy is clearly some­thing home­own­ers take se­ri­ously, with al­most

90% of ren­o­va­tors sur­veyed say­ing en­ergy-ef­fi­cient and en­vi­ron­men­tally friendly op­tions are im­por­tant to their projects. Of those home­own­ers who had taken out a green loan, just over 40% said they would make more en­vi­ron­men­tally friendly changes within the next 12 months.

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