Under the initiative, Stockland will offer discounts of between 15 and 20 per cent to residents for the installation of rooftop solar and battery storage. The company estimates that residents taking up the offer could save as much as $3,000 a year on their electricity costs if they were to install a package of 20 solar panels with a battery.
“We want Australians to live happily, sustainably and affordably in our communities and believe renewable energy offerings such as this, are not only good for the environment, but can be a good investment for residents,” Stockland CEO Mark Steinert said.
The offer will be available to residents of properties developed by Stockland since 1 January 2015, with the company seeing the initiative as part of its wider responsibility to promote sustainable communities.
“As a real estate owner, manager and developer we believe we have both the opportunity and responsibility to create the right balance of social, environmental and commercial conditions for our community, customers and investors now and in the future,” Steinert said.
Stockland has made substantial investments in the installation of solar systems throughout residential developments as well as commercial property portfolios. The company estimates that it had installed more than 12MW of solar capacity across its property portfolio in the 2018/19 financial year, and expects to more than double that capacity in 2019/20.
The initiative follows a $1.6 million project that saw solar and batteries installed across an entire street in the Victorian suburb of Craigieburn, worth up to $19,000 each, installed at no cost to customers.
The company says that the project will form part of a long-term research study to assess the benefits of installing rooftop solar and storage onto residential properties, including both the environmental and cost-saving benefits.
Stockland has also made investments to reduce the emissions associated with its commercial properties, including a substantial rollout of rooftop solar installations across its retail property portfolio.
A recent assessment completed by ClimateWorks Australia found that less than half of Australia’s largest property companies had put in place targets consistent with reaching zero net emissions by 2050.