Residential Scorecard Assessments: The Secret To Unlocking The Best Green Home Loan Rates

What is a residential scorecard assessment?

A Residential Scorecard Assessment is a nationally recognised tool developed by the Victorian Government and now expanding across Australia. It provides households with a personalised energy star rating, similar to the energy labels you see on appliances, showing how energy-efficient your home currently is.

An accredited assessor will visit your home, evaluate its energy features (such as solar, hot water systems, air conditioning, and insulation), and generate a detailed Scorecard report. If you wish, you can sit down with the assessor to discuss your home in more detail, which will help you fully understand the current performance of your home and the opportunities for improvement.

Key features of a Scorecard assessment:

• A star rating that reflects your home's overall energy performance, focused on running costs.
• Identification of your home’s biggest energy leaks and inefficiencies.
• A tailored list of priority upgrades that deliver the best return on investment.
• A clear action plan to achieve a higher energy rating and lower energy bills.

Learn more about the Scorecard at homescorecard.gov.au. Scroll down to see an example.

How scorecards unlock the best green home loan rates

A Residential Scorecard Assessment does not just help you improve comfort and cut bills - it can also unlock thousands of dollars in mortgage savings. Several lenders now use Scorecard results as part of their green loan eligibility criteria:

• Bank Australia Renovate Clean Energy Home Loan: rewarded customers who improved their scorecard rating by at least one star (excluding solar) with a discounted variable rate of 5.13% (note: this product has been paused as of 28 March)
• Gateway Bank Green Plus Home Loan: offers customers who achieve a minimum 7-star scorecard rating one of the lowest variable home loan rates on the market, currently 5.6%

The Scorecard assessment is still relatively new and can be misunderstood as complicated or costly. In reality, it is simple, affordable, and one of the smartest investments you can make, especially with the right guidance.

At 28Watt, we work closely with Scorecard assessors and guide you on exactly how to meet green mortgage requirements. For example, if your home is currently rated 2 stars out of 10 and you aim to qualify for a 5.6% home loan rate, we will advise you on the upgrades (such as solar panels) that will move you towards a 7-star rating, ensuring you meet the criteria with minimal guesswork.

Whether you are buying, refinancing, or renovating, a Residential Scorecard Assessment is a smart first step to electrifying your home, reducing your bills, and saving thousands on your mortgage.

How to find an assessor and how much it costs

At 28Watt, we work with a trusted network of accredited Scorecard assessors who deliver high-quality assessments and understand the specific requirements to qualify for leading green home loans. This ensures that your Scorecard is not only informative but also supports you in unlocking the best financing options available.

A Residential Scorecard Assessment can cost between $200 and $500. Victorian households can now access rebates for a Residential Efficiency Scorecard assessment under the Victorian Energy Upgrades (VEU). In some cases, the assessment is completely free!

An assessment covers:

• A comprehensive in-home inspection by an accredited expert
• A detailed energy performance report that highlights how your home currently uses energy
• A sit-down consultation with the assessor to discuss the findings and prioritise upgrades that offer the best return

We cover the cost
When you choose to refinance your home loan through 28Watt, we will cover the full cost of your Scorecard assessment.

If you prefer to find an assessor independently, you can search for one via the website. However, to benefit fully from our collaborative approach, ensuring your assessment is green loan ready and that upgrades are focused on lender requirements, we recommend working with one of our preferred assessors.

Ready to get started?
Simply contact us, and we will arrange everything for you. We will connect you with a trusted assessor, help you interpret the results, and guide you toward the best upgrade and finance options for your home.

Upgrading your home

Once you receive your Residential Scorecard report, you will be well-positioned to start upgrading your home.

Here is how we help you take the next steps:

1. Review your Scorecard: Identify priority upgrades that will have the biggest impact on energy efficiency and your star rating
2. Connect with accredited installers: We can match you with trusted professionals whose work meets green home loan eligibility criteria.
3. Arrange financing - if required: whether you need a standalone green loan to finance your upgrade or want to release equity through refinancing to a green home loan, our specialised broker will find the best solution for your needs.
4. Secure the best mortgage rates: Once your upgrades are complete, we will ensure you receive your discounted green loan rate.

Our specialised team of home energy and green loan brokers will guide you through every step - from upgrade planning to loan application - making the process easy and seamless. Let us unlock the full potential of your home - and your mortgage savings.

 

Example scorecard