It partners with federal agencies to pilot energy efficiency assessments for existing homes
Westpac has become the first of Australia’s major banks to participate in a federal government pilot designed to measure energy efficiency in existing homes.
The initiative is part of an expansion of the Nationwide House Energy Rating Scheme (NatHERS), which aims to help homeowners better understand the energy performance of their properties and identify affordable upgrades that could reduce energy bills and improve comfort.
Starting this week, select Westpac customers applying to refinance or top up their home loans may be invited to join the trial. Participants will receive a complimentary home energy rating from a qualified assessor, who will outline opportunities to improve household energy use.
Westpac’s involvement follows a similar move by non-major ING, which in February became the first Australian lender to sign on to the scheme for existing dwellings.
“Westpac has been an advocate for the expansion of the NatHERs scheme to include existing homes, and we’re proud to be the first major Australian bank to participate,” said James Hutton, managing director of mortgages at Westpac. “Our partnership will expand the reach of the program to more Australians seeking to make sustainable choices.
“This trial will give some of our customers the opportunity to be among the first homeowners in Australia to receive a trial NatHERS assessment for an existing home and assess where energy efficiency improvements could be made to save on power costs. This collaboration will not only help to improve energy efficiency, it will also help our customers understand how they can reduce household energy bills.”
Originally launched in 1993 to rate new homes and major renovations, NatHERS is being broadened to cover existing homes. The federal government intends to roll out the updated scheme nationally by mid-2025.
Westpac said it is working alongside the Commonwealth Scientific and Industrial Research Organisation (CSIRO), the Department of Climate Change, Energy, the Environment and Water (DCCEEW), and property valuation firm Opteon. The trial will help shape how energy ratings are delivered across the existing housing market as the program scales up.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
