By Alice Chia | Posted: 26 July 2012 1538 hrs
Developers and building owners can expect more funding from the Building and Construction Authority (BCA) to improve the energy efficiency of their buildings.
Under the enhanced Green Mark Incentive Scheme for Existing Buildings, BCA will co-fund up to 50 per cent or S$3 million of the cost of building projects.
This includes the purchase of energy-efficient equipment, such as chillers and LED lightings, the installation of the equipment and consultancy fees.
Previously, the scheme co-funded up to 35 per cent or S$1.5 million of the cost of energy-efficient equipment only.
To be eligible for the funding, one criteria applicants must meet is the Green Mark standard, a yardstick to rate the environmental sustainability of buildings in the tropics.
Owners who plan to retrofit their buildings to Green Mark Platinum standard can receive the maximum amount of funding.
Buildings rated with Green Mark GoldPlus can receive up to S$2.25 million co-funding, up from the previous S$0.5 million and those rated with Green Mark Gold can receive up to S$1.5 million, up from the previous S$0.15 million.
The S$100 million scheme was launched in 2009.
Personal Opinion: Kudos to our BCA for encouraging buildings to go green by offering tangible support. Building owners should grab the availability of funding from BCA and lower your building operating cost !