A state-government run energy group is pushing Victorians to cut $3000 a year from their energy bills by investing in home improvements worth as much as a second-hand car. Estimates from the State Electricity Commission of Victoria suggest a $26,236 home upgrade today, about the cost of a used SUV, would be returned to owners in nine years through halved energy bills with an all-electric fit out.
The new Easy Electric SEC platform helps households work out what changes they can make and how long they will take to pay for themselves. Changes modelled include a ducted heat pump, heat pump hot water service, induction cooktop, and solar panels, along with disconnecting gas. A $12,682 outlay for electric hot water, solar panels, and an induction cooktop would save $1440 annually and pay for itself in nine years. A $2771 heat pump system replacement for gas hot water would save $624 a year and be paid off within four years.
Melbourne’s Jason and Michelle Ziino, along with their children Rosina and Patrick, tested the SEC’s pilot program and have cut over $3000 from their energy bills. Michelle Ziino said watching their bills drop was a “big win,” and they plan to upgrade to an electric vehicle and use savings for a family holiday to the United States.
Sustainable homes developer Brendan Condon said cutting off gas connections would “collapse your energy bills,” slashing them from thousands to hundreds of dollars. He noted that ultra-sustainable homes at The Cape in Cape Patterson are selling at a significant premium to other homes in the area. SEC executive general manager Sumone Chakravarti said upgrades would typically add long-term value to homes, adding that “going electric can deliver meaningful savings, reduce exposure to energy price spikes.”
