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MyCoolHome: Leading the Charge for Sustainable Real Estate Tech in Australia

Award-Winning Technology Boosts Energy Efficiency and Property Value in Australia

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Published on

July 3, 2024

We're thrilled to announce that Hubble, in partnership with AdaptWest Climate Change Adaptation Plan, MyCoolHome, has been named a finalist in the prestigious Proptech Awards 2024 for Environment & Energy Efficiency!

And this is just the beginning. Over the last 18 months, in collaboration with forward-thinking local government efforts, we launched the "MyCoolHome" initiative to support residents in adapting to climate change and promote climate change adaptation. MyCoolHome is an AI-powered digital tool designed to enhance resident involvement and awareness, encouraging the adoption of practices that improve resilience and sustainability in daily living.

What This Means for Australian
Real Estate

MyCoolHome allows residents to self-assess their homes and receive suggested upgrade pathways for more resilient living. This collaboration between Hubble and local governments has led to more than 10,000 home energy efficiency upgrade recommendations for residents. The tool also aids councils in tracking and enhancing sustainable efforts for thermal performance and climate change adaptation. By increasing energy efficiency literacy and collecting data that translates into CO2 savings, aiming for future performance indicators (KPIs) for councils.

A recent research conducted by Gill Armstrong et al. at Climateworks highlights that home energy efficiency renovations can significantly lower housing costs and carbon emissions. The report shows an average annual savings of $1,845 per household and potential carbon savings of 2.3 tCO2e, with an average renovation cost of $14,800. It categorises renovation improvements into three levels, with the "Quick-fix" being the easiest to implement. MyCoolHome offers similar recommendations, providing the best payback for carbon reduction and economic savings.

“The finalists for the Proptech Awards 2024 are a testament to the exceptional talent and innovation that exists within Australia’s Proptech ecosystem,” said Kylie Davis, President of Proptech Association Australia. “These companies and individuals are pushing the boundaries of what is possible – driving efficiency, sustainability and customer satisfaction in the property industry.”

‍Why This Matters to You:
Boost Your Property's Value by $112,000

Recent report from Domain’s (Are energy-efficient homes more valuable?) shows that properties with energy-efficient features sell faster and fetch higher prices. According to the report, a house with energy-efficient features will sell for $112,000 more than one without, and units for $70,000 more. This aligns with the experience of McGarry Constructions, where Layne Phan and George McGarry built an energy-efficient home in Sydney’s Sutherland Shire, filled with sustainable features like double glazing, internal and external insulation, solar panels, and a rainwater tank. Since moving into their home, they’ve significantly reduced their energy usage, never needing to use the air-conditioner or heater.

Domain's report further emphasises that green homes receive more attention from buyers, resulting in quicker sales compared to non-energy-efficient counterparts. This trend, driven by the cost-of-living crisis, highlights the economic benefits of investing in sustainable-home features.

A Look Ahead:
The Future of Sustainable Property Solutions

Looking ahead, we plan to extend MyCoolHome's functionality to include features that assess weather performance, providing even more comprehensive support to residents. Additionally, we aim to help more councils implement sustainable practices, further enhancing our collective efforts towards a greener future. Want to learn more about how Hubble's proptech solutions are transforming the real estate landscape? Get in touch with us today!

"We envision a future where every home is not only smart but also sustainable. This recognition validates our mission to make that vision a reality for Australians." Marco Salinas, CEO & Cofounder, Hubble

More about AdaptWest

Adelaide’s West has a plan. Since 2016, the AdaptWest Regional Climate Change Adaptation Plan has been actively implemented to address climate change adaptation in the communities. Developed collaboratively by the cities of Charles Sturt, Port Adelaide Enfield, and West Torrens, which comprise the Western Adelaide Planning Region, this comprehensive plan identifies the real and specific implications of climate change. It provides realistic strategies for residents, businesses, organisations, and agencies in the western community to prepare for, respond to, and build resilience against present and future climate challenges. Click here to learn more about AdaptWest.

For more detailed information, please visit the MyCoolhome website.