Sydney powers up in smart new ways
Sydney's getting greener as part of a conscious shift towards reducing water and electricity use and carbon emissions, according to a June 5 statement from the City of Sydney.
Property owners in the vicinity will appreciate being part of such a forward-thinking city and may see strong interest in their homes if they're looking to sell.
A mortgage refinance is a smart way to access the existing equity in a property in order to upgrade. However, the latest news from the New South Wales capital would suggest that not many people would want to stray from this great city.
The City of Sydney embarked on a retrofit program that took two years to complete. As part of the project, Customs House, Town Hall House, community centres, swimming pools, car parks and libraries have undergone significant changes that will see the local government area save around $1.1 million per year in power bills.
"We're replacing street lights with LEDs, retrofitting our buildings for water, waste and energy efficiency, installing solar across our buildings as part of Australia's largest rooftop solar project and increasing the city's tree canopy by 50 per cent," explained Lord Mayor Clover Moore.
This will cut the area's electricity use by close to 6.6 million kilowatt hours annually. This is equivalent to the energy required to power 1,000 households every year.
"More than 90 per cent of Sydneysiders told us they wanted action on climate change. Through our careful planning and investment we are making significant progress," Ms Moore explained.
"The City of Sydney is leading through example, getting our own house in order while at the same time doing the research and planning that can unlock clean energy for the rest of our community."
With plenty going on in Sydney, homeowners would be smart to check out their home loan options in order to upgrade from their existing properties or invest in another dwelling in this burgeoning city. A home loan calculator can indicate your borrowing power.
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