"Lendlease fund sets 2025 net zero carbon target."

Melbourne Quarter buildings project (Source TheFifthEstate)

“Lendlease’s Australian Prime Property Fund Commercial (APPFC) will become net zero carbon by 2025, one of the tightest targets set in the property sector. The goal is being supported by the Clean Energy Finance Corporation (CEFC), which has tipped $100 million in equity into the $4.5 billion commercial property fund.”

“The investment would help Lendlease meet the new industry benchmark for carbon targets while specifically helping the Melbourne Quarter development pursue a precinct-wide energy solution, including the integration of energy efficiency, renewables, storage and virtual network technologies across multiple buildings.”

There will also be a tenant engagement component. There is a trend towards smart data, tenant engagement and whole-of-building approaches, and part of the deal struck with CEFC was that learnings would be shared with the wider industry. CEFC finance is helping developers forge new standards in sustainability and building design across the built environment.

“The Lendlease-masterplanned Melbourne Quarter is targeting 6 Star Green Star ratings for all commercial buildings and will host one of the city’s largest solar installations. The first stage is set to be completed this year, and when all stages are completed will accommodate 13,000 workers and 3000 residents.”

Read more:
Lendlease fund sets 2025 net zero carbon target. TheFifthEstate, March 29, 2018.
Melbourne Quarter precinct the centrepiece of new CEFC and Lendlease sustainability plans. Clean Energy Finance Corporation, March 29, 2018.

City of Sydney encourages rooftop solar to avoid costly grid upgrades

 Source: RenewEconomy

The City of Sydney, Australia, is injecting funds into its electricity grid supplier, Ausgrid, to encourage the uptake of more rooftop solar in the city council area. Sydney will lift the money available to subsidise rooftop solar and other initiatives by 50 per cent. Ausgrid claims the costs of more solar will be vastly outweighed by avoiding expensive grid upgrades.

The grant program is available for rooftop solar installations, as well as LED lighting, variable heat pumps and smart building control systems. With many of the buildings being occupied during the day and not at night, most of the solar energy will be used and will help delay peak demand times.

Lord Mayor Clover Moore said the initiative would help the City of Sydney reach its targets to reduce emissions by 70 per cent and source half of the electricity supply in our area from renewables. “We’re covering as many of our own buildings with solar PV as we can, but we can’t control the buildings we don’t own. Initiatives like this encourage building owners across the city to invest in renewables and energy efficiency measures.”

The project could also realise a solution that would possibly increase the number of solar installations on apartment buildings and leased commercial properties. There are systems available that enable the sharing of solar energy with tenants. See: Queensland develops a simple energy efficiency investment program for commercial buildings and their tenants.

Further reading: City of Sydney buys into Ausgrid network’s push for more solar. RenewEconomy, March 8, 2018.

Queensland develops a simple energy efficiency investment program for commercial buildings and their tenants

Brisbane city (TheFifthEstate)

An industry-led program called t3, has been developed by Incorp and Brisbane City Council’s sustainability agency CitySmart. It is a simplified Environmental Upgrade Agreement (EUA) process that gives building owners and tenants incentives to pursue energy efficiency upgrades, with both guaranteed a share in savings generated.

t3 operates on a cost recovery basis where building owners fully fund the upgrade but then receive 80 per cent of the operational savings over the term of a lease. Tenants have no capital outlay, but keep 20 percent of savings (though different splits can be negotiated). Carbon credits generated from projects are also donated to a chosen charity.

Initially, two institutions have signed up to t3: building owner Queensland Investment Corporation (QIC) and tenant Queensland Department of Housing and Public Works. The deal involves an upgrade of lighting from fluorescent to smart LED over two buildings at 111 George Street and neighbouring 33 Charlotte Street in Brisbane CBD. The plan is to add other energy efficiencies such as solar power and further improvements later.

If this t3 initiative is expanded it could deliver $100 million a year in savings to Australian businesses while cutting annual greenhouse gas emissions by 180,000 tonnes. Incorp works across many borders – Sydney, Melbourne, Brisbane, San Francisco, Seattle and Dubai. Maybe this is exactly the right company to help spread the idea.

Further reading:

T3 Initiative.

Queensland leads on energy efficiency program that could save businesses $100m a year. TheFifthEstate, February 28, 2018.

Brisbane’s CitySmart and Incorp make EUAs look easy. TheFifthEstate, June 27, 2018.