The Australian Sustainable Built Environment Council (ASBEC) this week released its Second Plank Update Report 2010 - hailed as a clarion call to government on the significant potential of additional energy efficiency measures in the building sector.
The report by ASBEC's Climate Change Task Group updates findings from ASBEC's Second Plank Report: Building a Low Carbon Economy with Energy Efficient Buildings, released in September 2008.
The updated report provides an economic analysis of the potential role the building sector can play in reducing greenhouse gas emissions (GHG) through additional energy efficiency measures.
It takes into account the Australian Government's Renewable Energy Target (RET), policy measures and programs, and forecasts energy efficiency savings under both a Carbon Pollution Reduction Scheme (CPRS) and a non-CPRS scenario. Importantly, the report shows that under both scenarios there are significant additional GHG savings that can be made.
The report highlights the impediments and market failures that prevent the building sector from reaching its full GHG abatement potential, including the funding gap problem - that is, the long period between initial investment in energy efficiency measures and the realisation of benefits in terms of energy savings and other gains.
The building sector is comprised of residential and commercial buildings, and through its operational energy, accounts for around 19 per cent of total energy consumption in Australia, and around 24 per cent of Australia's total GHG emissions.
The Second Plank Update Report was funded by the Australian Institute of Architects, the Green Building Council of Australia, the Property Council of Australia, Consult Australia, the Facility Management Association of Australia and Szencorp. It is available for download from the ASBEC website.