Innovative financing brings new opportunities for community housing

Shelter WA welcomes today’s announcement from the Clean Energy Finance Corporation to make $250m available to community housing providers nationally.

This announcement from the Clean Energy Finance Corporation shows the application of an innovative financing model to increase the supply of environmentally sustainable social housing.

The Council on Federal Financial Relations Affordable Housing Working Group should be looking deeply into the work of the Clean Energy Finance Corporation to gain a better understanding of how its model of providing concessional finance could be applied to investments in social housing more broadly.

This investment will create access to a new source of funds for community housing providers, deliver environmental benefits in terms of reduced emissions and, most importantly, lower the energy costs and improve the comfort of low income tenants.

Shelter WA said this program will allow community housing providers to access finance to build new energy efficient, affordable housing as well as retrofit existing buildings to reduce the energy bills of tenants in older buildings with low energy ratings.

Retrofitting could include switching to LED lighting, updating household appliances, installing solar panels and improving insulation.

Shelter WA looks forward to working with the WA Community Housing Sector to maximise their participation in this program.

Western Australia has a high level of unmet need for social housing, with some people waiting up to ten years to be housed in the public housing system.

Media Resources

http://www.cleanenergyfinancecorp.com.au/media/releases-and-announcements/files/cefc-creates-$250m-community-housing-program-to-lower-energy-costs-for-low-income-families-and-residents.aspx

http://www.treasury.gov.au/ConsultationsandReviews/Consultations/2016/CFFR-Affordable-Housing-Working-Group

http://www.cleanenergyfinancecorp.com.au/media/releases-and-announcements/files/cefc-creates-$250m-community-housing-program-to-lower-energy-costs-for-low-income-families-and-residents.aspx