Understanding the energy efficiency of homes can help the industry and homeowners to improve energy performance and lower power bills, but before the trial, data on the energy efficiency of homes was limited or not readily accessible.
The pilot project combines CoreLogic’s 40 years of comprehensive property data with CSIRO’s RapidRate artificial intelligence model to produce an estimate of heating and cooling load, and an energy efficiency star rating for homes.
The insights from CSIRO’s RapidRate will initially be made available to CoreLogic’s core banking and finance customers, with plans to make it available to other market segments in the future.
CSIRO Chief Executive Dr Larry Marshall said the new AI system is another example of the practical solutions from science CSIRO has delivered to help Australians achieve net zero emissions by 2050.
“Improving the energy efficiency of homes right around the country can reduce emissions and translate to longer-term energy and cost savings on their energy bills,” he said.
“Achieving net zero emissions by 2050 is one of Australia’s greatest challenges, but collaborative science and technology holds the key to creating solutions that will get us there.”
The Nationwide House Energy Rating Scheme (NatHERS) was initiated in 1993 to provide a standardised approach and regulatory framework on energy ratings for new residential homes, but the data is not easily accessible, and data on homes built before NatHERS is limited.
CoreLogic International Chief Executive Officer Lisa Claes said the revolutionary system has a multitude of potential economic, climate and societal benefits including supporting emissions reduction and aligning with pathways to net zero by 2050.
Claes said there is an urgent need to fill knowledge gaps around energy performance of existing property that would result in more efficient, sustainable and comfortable housing that cost less to run.
“It is a thrill to be at the vanguard of revolutionising energy efficiency with Australia’s national science agency, CSIRO, to use innovative technology and data, to develop a solution for one of this generation’s greatest challenges,” she said.
“Combining our considerable breadth and depth of knowledge and respective industry expertise gives us the power and the privilege to make a real and significant difference towards improving energy efficiency performance across the entire residential sector.”
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