SINGAPORE: To help existing buildings become more energy-efficient, the Building and Construction Authority (BCA) will launch a new S$63 million incentive scheme that will help building owners lower the upfront costs of retrofits.
Under the Green Mark Incentive Scheme for Existing Buildings 2.0 (GMIS-EB 2.0), building owners can get grants based on the emission reductions to be achieved through retrofitting their developments, subject to certain caps.
Building projects that pursue higher standards of energy performance, such as Super Low Energy or Zero Energy, can also get higher rates of funding support.
Speaking in Parliament on Tuesday (Mar 8), National Development Minister Desmond Lee noted that more than half of Singapore's buildings that are more than 20 years old have not been retrofitted, and they "lag behind" newer ones in energy performance.
The grant aims to help these building owners, given that retrofits have high upfront costs and investments may take several years to be recouped, said Mr Lee.
The move also comes after the revised Green Mark scheme was launched in September last year, setting out higher energy-efficiency standards and other sustainability outcomes.
To improve energy efficiency, building owners will have the flexibility to choose design strategies and technologies, based on a list of approved works – which includes retrofits to cooling systems, as well as installing automation systems and sensors.
The scheme, available from the second quarter of this year, applies to privately owned commercial, residential or light industrial buildings with gross floor areas (GFA) exceeding 5,000 sq m.
The move also comes amid a broader push to green the built environment sector, based on new goals set out last year in a master plan – which included “80-80-80 in 2030” targets.
In particular, out of a goal to green 80 per cent of buildings by GFA by 2030, more than 49 per cent has been greened, said Mr Lee.
