Embracing Electrification

Embracing electrification in your investments is not only a proactive move; it’s a strategic reaction that can put you one step ahead in the evolving energy scene. In the face of an impending gas ban, commercial landlords and multi-unit residential developers in Queensland have a golden opportunity to begin the transition towards electrification now.

Last month the Victorian government moved to prohibit the connection of gas to new homes in Victoria from 1st January 2024. With over 5 million homes in Australia connected to gas and 2 million of those being in Victoria, this decision can be considered a major shift in thinking. And Victoria is not alone, with one council in Sydney just this week banning gas connections in all new buildings. The ACT have also already implemented this ban, so you can all but guarantee that other states in Australia will follow suit.

So, what can you do? The solution is simple – electrify. Less greenhouse gas emissions. More electric appliances. More solar and energy storage to power your property assets. Not only will your property benefit from improved energy efficiencies, but the overall reliance on the grid will decrease.

Furthermore, buildings that have “electrified” are usually able to achieve a high Green Star Rating (for more information see Green Building Council Australia website at https://new.gbca.org.au/green-star/exploring-green-star/), which is not only more attractive to tenants, but is becoming a minimum requirement for institutional landlords, commercial lenders, as well as government and multinational tenants.

Commercial landlords and developers who implement these technologies before any mandated changes stand to gain value in their investment and a competitive edge in a dynamic market. You’ll also avoid the rush of other businesses making the same move (and contractor price hikes associated due to increased demand), potential compliance fines and challenges, all while preparing your property for the future in renewable energy.

I’ve been in my role as the Commercial Solar Manager at Hembrows for coming up to 5 years now, with a 20-year career in the Commercial Property sector before this.  My move into the Commercial Solar industry was deliberate as I was energised (pardon the pun!) by the certain commercial and social benefits I saw in embracing electrification. While I’m no expert - I do know enough to be dynamic in my view and have access to some of the best minds in the business across both of these sectors. My firsthand experience in both commercial property management and commercial solar projects translates to practical insights in the benefits and challenges of solar.

By embracing electrification, you can position your property as sustainable, efficient, and forward-thinking, all while reaping economic and environmental rewards and staying ahead of the game.

Hembrows completed a complete electrification and upgrade at Rivermakers ready for further renewable energy growth.