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Residents living in the City of Sydney's four so-called trigeneration 'zones' will welcome a further $5 billion boost to the eco-friendly network from the federal government.
The additional funds, which were announced by the minister and parliamentary secretary for climate change and energy efficiency, will supplement the City of Sydney's $12 million investment to install trigeneration plants at Town Hall House and the Prince Alfred Park swimming pool.
Applauding the announcement, City of Sydney lord mayor Clover Moore says the additional funds represent good news for those who own or rent property in Sydney.
She said: "Households and businesses connected to the network will get a cleaner and cost-competitive alternative to the rising cost of coal-fired electricity."
In fact, Sydneysiders could stand to save a collective $1.5 billion on electricity by 2030 - and see the harbour city's carbon footprint reduced by 70 per cent in the same time period - thanks to the installation of trigeneration plants.
Under the city's interim trigeneration master plan, the network's 360-MW capacity will be reached by 2030, by which time it will be meeting up to 70 per cent of electricity requirements in the City of Sydney.
