In order to give a push to greener homes, the government is considering launching a scheme that would offer cheaper loans and lower registration fee for people who opt for greener residential units.

The government is working on a scheme to promote energy efficient homes as it ramps up efforts to mitigate climate change by moving towards a net zero-energy building regime.

As per government sources, the proposal is a part of ongoing discussions that the government is holding about framing ‘Energy Conservation Building Code for Residential Sector (ECBC-R),’ following the code for government and commercial buildings that was framed in 2007.

Minister for power, coal and renewable energy, Piyush Goyal, is scheduled to release the refreshed version of the code, ECBC-2017, on Monday, outlining a quantum leap towards a greener outlook for Indian realty.

Sources said that the Bureau of Energy Efficiency (BEE), an outfit under the power ministry, is working on a scheme to incentivise new homes that are more energy efficient and make lower demand on utilities for lighting and cooling energy.

Also on the table is a proposal to extend the incentives to make existing residential properties more energy efficient through retrofitting.

The thinking behind the proposals is in line with the incentives given to rooftop solar projects for the residential sector, which have been brought under the ambit of home loans that enjoy low interest rates.

The move for a code for residential buildings has been prompted by concerns over demand side management, a vital step for maintaining a sustainable growth and lowering carbon emission at a time when the economy trots apace.

ECBC-R will strengthen the government’s efforts at reducing the carbon footprint of a growing segment of energy consumers. It will also add green jobs in the real estate sector.

ECBC-R will also be a booster for the government’s ‘Make in India’ campaign, given that it would raise the demand for energy efficient household equipment as well as other services.

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