A new AI system is being trialled in Australia by the national science agency CSIRO and property data analytics company CoreLogic Australia to estimate the energy efficiency of homes across the country. Prior to this trial, data on the energy efficiency of homes was limited or not readily accessible, making it difficult for the industry and homeowners to improve energy performance and reduce power bills.
The pilot project merges CoreLogic’s 40 years of comprehensive property data with CSIRO’s RapidRate artificial intelligence model to provide an estimate of heating and cooling load, as well as an energy efficiency star rating for homes. Initially, the insights from CSIRO’s RapidRate will be accessible to CoreLogic’s core banking and finance customers, with plans to expand to other market segments in the future.
According to CSIRO Chief Executive Dr Larry Marshall, this new AI system is one of the practical solutions that CSIRO has developed to assist Australians in achieving net zero emissions by 2050. He further added that enhancing the energy efficiency of homes throughout the country could reduce emissions and lead to long-term energy and cost savings on energy bills.
Although the Nationwide House Energy Rating Scheme (NatHERS) was established in 1993 to provide a standardised approach and regulatory framework on energy ratings for new residential homes, data on homes built before NatHERS is limited and the data is not easily accessible. As a result, CoreLogic International Chief Executive Officer Lisa Claes emphasises that there is an urgent need to fill knowledge gaps surrounding the energy performance of existing property to create more efficient, sustainable, and comfortable housing that costs less to operate.
Ms Claes also highlights that this innovative system has numerous potential economic, climate, and societal advantages, including supporting emissions reduction and aligning with pathways to net zero by 2050. She adds that collaborating with CSIRO allows them to combine their respective industry expertise and knowledge, giving them the power to significantly enhance energy efficiency performance across the entire residential sector.
CoreLogic Asia Pacific is a prominent, autonomous provider of property data and analytics. Our mission is to enable people to make informed and beneficial property decisions by furnishing them with up-to-date property insights. We have garnered extensive knowledge in the past three decades, which enables us to offer services to various sectors such as Banking & Finance, Real Estate, Government, Insurance, and Construction. Our innovative and varied solutions cater to our clients’ needs by identifying growth opportunities, enhancing performance and mitigating risk. Additionally, we own and operate consumer-facing portals like onthehouse.com.au, propertyvalue.com.au, and propertyvalue.co.nz, which offer valuable insights to those looking to buy or sell their residential or investment property. CoreLogic Asia Pacific is a wholly-owned subsidiary of CoreLogic, Inc, one of the world’s largest data and analytics corporations, with offices in Australia, New Zealand, the United States, and the United Kingdom. To learn more, visit our website at corelogic.com.au.
CSIRO, Australia’s national science agency and innovation catalyst, tackles the greatest challenges through pioneering science and technology. With a team of 5,000 experts, cutting-edge facilities, and a global research network, we bring together the brightest minds to conduct groundbreaking research. We collaborate with industry, government, universities, and research organizations to translate scientific knowledge into practical solutions for a range of issues, such as ensuring food security and quality, developing clean energy and resources, improving health and wellbeing, creating resilient and valuable environments, promoting innovative industries, and ensuring a secure Australia and region. At CSIRO, we are unlocking a better future for all. To learn more, visit our website at www.csiro.au.
The NatHERS (Nationwide House Energy Rating Scheme) is a program that offers energy ratings for newly constructed residences. The scheme evaluates a home’s thermal insulation on a scale ranging from one to ten stars, which requires a thorough evaluation of the building plans by a certified NatHERS assessor. This process helps guarantee that new homes and apartments meet the minimum energy efficiency standards set by the National Construction Code.