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New landmark policy tackles skyrocketing cost of living in an unexpected way: 'Doing something about it is exactly what today is about'

"We know the cost of living … is getting bigger and bigger."

All-electric homes, Reduce emissions that harm the environment

Photo Credit: iStock

In some electrifying news for Australia, beginning on January 1, 2024, all residential properties and subdivisions that require a planning permit in the state of Victoria will be fully powered by electricity, the Australian Associated Press reported via Yahoo Finance.

Victoria is home to Melbourne, Australia's second most populated and second most expensive city to live in. Residents of all-electric homes will reportedly save $1,000 a year on energy bills, and those homes that also have solar installed could save up to $2,200

"We know the cost of living for Victorians is getting bigger and bigger," Lily D'Ambrosio, the minister for energy and resources, said of the announcement. "Doing something about it is exactly what today is about."

The move will also improve the health of residents, as gas stoves emit pollutants like nitrogen dioxide and carbon monoxide that are known to damage our lungs. While other gas-powered appliances like furnaces and water heaters vent pollution outside, gas stoves are likely not vented.

The change to all-electric homes will also reduce emissions that harm the environment. About 80% of homes in Victoria are connected to gas, accounting for about 17% of emissions in the state.

The move to all-electric residential properties comes as part of Victoria's ambitious plan to reach net-zero emissions by 2045, with reduction targets set every five years until then. 

Victoria hopes to reach the target of transitioning to 65% renewable energies by 2030.

As part of the move to all-electric homes, a grant program will be established, allowing developers to offer rebates for solar products to new homebuyers.

"All Victorian households and businesses will ultimately need to switch from gas to renewable electricity," Clean Energy Council director Anna Freeman said, reported Yahoo.

"All-electric homes are healthier, cleaner, and cheaper to run," Sonya Kilkenny, the minister for planning, said in a statement. "Going all-electric ensures Victorians building a new home are part of this exciting energy transition."

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