CoreLogic and CSIRO have combined the power of artificial intelligence and property data to trial a new pilot program that measures the energy efficiency of Australian homes.
The RapidRate artificial intelligence model will produce an estimate of heating and cooling load as well as an energy efficiency star rating aligned with the existing Nationwide House Energy Scheme (NatHERS) currently used for new dwellings.
The program will be trialled through CoreLogic’s core finance and banking customers, including NAB, with the insights to be initially made available to the property data analytics company’s core banking and finance customers, with plans for a roll-out to other market segments in the future.
“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,” CSIRO CEO Larry Marshall 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.”
Lisa Claes (pictured above left), CoreLogic International CEO, said the system will help support emissions reduction and aligning with pathways to net zero by 2050, among a multitude of other economic, climate, and societal benefits.
Claes also underlined the need to fill knowledge gaps around energy performance of existing properties to make housing more efficient, sustainable, comfortable, and less expensive 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.”
NAB Group CEO Ross McEwan (pictured above right) said that it’s everyone’s duty to take action on climate change.
“Helping our customers to understand the energy efficiency in their homes enables them to make more informed decisions about their household energy usage,” he said.
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