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Westpac has become the first major Australian bank to join the Australian government’s trial of the Nationwide House Energy Rating Scheme (NatHERS) for existing homes.
The NatHERS initiative offers home energy ratings to help Australian households better understand their home’s energy performance, identify cost-effective upgrades to improve comfort, and reduce energy bills.
From this week, select Westpac customers applying to refinance or top up their mortgage may be invited to take part in the trial.
Trial participants will receive a free home energy rating certificate from an expert assessor to identify where energy efficiencies can be made, informing home improvement plans for energy savings and increased comfort.
“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, Westpac managing director of mortgages.
“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.”
Introduced in 1993 for new homes and major renovations, the trial is part of the Australian government’s commitment to expanding NatHERS to existing homes.
Westpac is commencing the trial in collaboration with the Australian government, the CSIRO, and property valuer Opteon.
Customer trials will involve gathering insights for a smoother rollout of energy ratings across existing housing by government and industry, once the expanded scheme launches from mid-2025.
This follows non-major bank ING Australia becoming the first bank to participate in NatHERS trial.
From mid-February, select ING customers applying to refinance or top up their mortgage may be invited to take part in the trial.
Commenting on ING joining the trial, George Thompson, ING’s head of home loans, said: “Household emissions are a major contributor to Australia’s carbon footprint.
“At ING, we’re committed to reducing carbon emissions, and that’s why we’re thrilled to be the first bank in Australia to initiate the NatHERS trial for existing houses.”
[RELATED: Non-major becomes first bank to join NatHERS trial]
