CSIRO and CoreLogic Australia Test New AI System to Revolutionize Energy Efficiency in Homes

Australia’s national science agency, CSIRO, and property data analytics company CoreLogic Australia, have embarked on a joint venture to create a new artificial intelligence (AI) system that will assess and estimate the energy efficiency of homes across the nation. This innovative pilot project aims to help the industry and homeowners boost energy performance and reduce power bills, addressing a lack of readily accessible information on home energy efficiency.

The collaboration brings together CoreLogic’s four decades of comprehensive property data and CSIRO’s RapidRate AI model to generate estimates of heating and cooling load, as well as an energy efficiency star rating for residences. The insights gleaned from CSIRO’s RapidRate will first be provided to CoreLogic’s primary banking and finance customers, with plans to make the information available to homeowners in the future.

CSIRO Chief Executive Dr Larry Marshall explained that this AI system exemplifies the practical solutions that science can offer in helping Australia reach its goal of net-zero emissions by 2050. He emphasized the benefits of enhancing energy efficiency in homes nationwide, which include reducing emissions and achieving long-term energy and cost savings.

“Collaborative science and technology holds the key to creating solutions that will get us there,” Dr Marshall said.

While the Nationwide House Energy Rating Scheme (NatHERS) was introduced in 1993 to provide a standardized approach and regulatory framework for energy ratings of new residential homes, its data is not easily accessible. Moreover, data on homes built before the implementation of NatHERS is limited. The groundbreaking system developed by CSIRO and CoreLogic Australia seeks to address these limitations, offering a range of potential economic, climate, and societal benefits, such as supporting emissions reduction and aligning with the country’s net-zero 2050 target.

CoreLogic International Chief Executive Officer Lisa Claes expressed excitement about being at the forefront of revolutionizing energy efficiency alongside CSIRO. She emphasized the importance of filling knowledge gaps in the energy performance of existing properties to create more efficient, sustainable, and comfortable housing that is less costly to maintain.

Claes 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.”

This partnership between CSIRO and CoreLogic Australia has the potential to bring about significant change in the energy efficiency of homes across the country. By leveraging AI and data analytics, the project will provide valuable insights to homeowners, the industry, and financial institutions, ultimately supporting Australia’s commitment to reducing emissions and achieving net-zero targets.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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