Page 827 - Week 02 - Thursday, 23 February 2012
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(2) What is the anticipated payback period on these investments from realised savings.
(3) What will be the cost to Government to retrofit its existing buildings to meet the suggested energy efficiency standard.
(4) What will be the average increase in building costs for commercial buildings to meet the suggested energy efficiency standards.
(5) What will be the average cost to a home owner to upgrade their existing home to meet the suggested energy efficiency standards.
(6) What is the anticipated payback period on these investments from realised savings.
(7) What is the expected payback period of replacing electric hot water systems from realised savings.
Mr Corbell: The answer to the member’s question is as follows:
(1) The total cost of investing in upgrades to the commercial sector is estimated at $43 million compared with benefits of an estimated $173 million. The modelling is based on an estimated floor area of 7.56 million square metres in 2011. This equates to an average cost of $5.70 per square metre.
(2) Payback periods will be variable depending on the specific energy efficiency improvement undertaken and its timing. At a discount rate of 7%, the total benefits for all commercial sector retrofit improvements are estimated to exceed costs by a factor of 4.
(3) The modelling is based on an ACT wide building stock. The costs and abatement potential for ACT Government building stock to be retrofitted will be defined in the ACT Government Carbon Neutral Framework.
(4) The modelling assumes a zero cost of measures in new commercial buildings as new commercial buildings are designed and built to comply with higher energy efficiency standards defined under the Building Code of Australia (BCA). The BCA is assumed to be strengthened over time to include requirements where the benefits exceed the costs by a factor of 1.1, in line with industry expectations.
(5) The modelling assumes an average gross cost of $3,000 per dwelling which is more than offset by energy savings in net present value terms. This cost was based on modelling provided by pitt&sherry. The modelling does not attribute costs to any individual entity, such as householders or government, and does not consider the effect of Government programs or subsidies.
(6) Payback periods will be variable depending on the specific energy efficiency improvement undertaken and its timing. At a discount rate of 7%, the total benefits for all residential sector improvements are estimated to exceed costs by a factor of 1.1.
(7) Payback periods will be variable depending on the type of technology that is purchased and its timing. At a discount rate of 7%, the total benefits under the accelerated phase-out of resistive electric water heaters scenario are estimated to exceed costs by a factor of around 1.3.
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