City of Melbourne’s solar strategy

Renewable energy sources are set to play a significant part in the City of Melbourne’s zero net emissions target by 2020. The City of Melbourne has developed a number of strategies for implementing renewable energy solutions of which solar is the least cost, most readily available one for residential and commercial property owners and occupants.

This strategy compliments the City of Melbourne’s 1200 Buildings program, for which Sustainable Melbourne Fund facilitates Environmental Upgrade Agreements (EUAs).

The EUA is an innovative finance mechanism that can also be used to install solar panels onto the rooftops of commercial buildings in the Melbourne City municipality. The opportunity is huge and it’s time building owners and tenants take advantage.

The City of Melbourne has conservatively estimated 20 megawatts (MW) of solar capacity as being achievable within the municipality upon large, privately held rooftops. This would see 31,273 tonnes of greenhouse gas reductions per year, should it be achieved.

With EUA finance now available for up to a 20 year repayment period, solar has become commercially attractive and not just the fodder of green households. If you’re intrigued – read our blog on using an EUA to finance solar for your building.

Creating a solar Melbourne reduces its environmental impacts, improves energy efficiency and contributes to achieving the environmental targets set out in the roadmap to achieving zero net emissions. Harnessing solar energy not only lowers electricity bills for businesses in commercial buildings, but demonstrates organisational commitment to sustainability.

Creating a sustainable city takes bold action. Solar powered commercial buildings both respond to the risks of climate change, while benefiting from energy efficiency; enabling Melburnians to achieve carbon-neutrality. The solar strategy forms an integral part of Melbourne’s sustainability journey with many large businesses and key landmarks already taking up the solar challenge. Melbourne’s iconic Federation Square, Queen Victoria Market and Council House 2 have all installed solar as a part of their individual renewable energy strategies.

These prominent and high profile buildings demonstrate the commitment Melburnians have made towards going solar for a greater purpose. The City’s solar strategy is just the beginning.

If you would like to know more the City of Melbourne’s solar strategy, register here.

To find out more about how you can secure EUA finance for solar on your building, contact us today.