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[25 July 2022]

The Property Council of Australia today welcomed the Albanese Government’s move to expand the mandate of the Australian Renewable Energy Agency (ARENA) to focus on energy efficiency and electrification, through regulations that came into force over the weekend.

Under the new Australian Renewable Energy Agency Amendment (Powering Australia) Regulations 2022, ARENA’s mandate will be broadened in two major areas – electrification and energy efficiency – with the goal of better supporting the overall transition to renewables.

Property Council of Australia Chief Executive Ken Morrison said the move is an important first step in bolstering ARENA’s role and accelerating its work. “This move by Minister Chris Bowen is a positive early signal to industry, that has the potential to set Australia on a path to being a great example for the world,” Mr Morrison said.

“This double transformation – on efficiency and electrification – presents an opportunity to drive the integration of EVs as well as the electrification of buildings in a way that reduces power bills and helps smooth the transition to a new energy system.

“Energy efficient electric buildings, that draw less from the grid to run appliances, charge EVs at times when renewables are plentiful, or load shift to reduce stress on the network around peaks, remove the need for expensive network infrastructure and extra generation.

“ARENA is now well-placed to capitalise on the significant demand side opportunities before us, including focusing on efficient and electric homes and buildings that harmonise with the grid,” he said.