The Green Mark Incentive Scheme will be enhanced to the tune of S$63 million. This is to help building owners lower the upfront costs of retrofits and help help existing buildings become more energy-efficient.
The changes include upgrading the cooler system, redesigning spaces for natural ventilation and installing solar panels.
This move comes after the revised Green Mark Scheme that was launched last year. Projects with higher standards of energy performance, can get higher rates of funding support.
Green Mark Incentive Scheme Available From 2Q 2022
The scheme will be available from the second quarter of this year. This scheme applies to privately owned commercial, residential or light industrial buildings. The gross floor areas should be exceeding 5,000 sq m.
BCA said Singapore’s best-in-class green buildings have achieved 65 to 70 per cent improvement in energy efficiency over 2005 levels. There will be an extra S$45 million in funding will be set aside for the enhanced Green Buildings Innovation Cluster (GBIC) 2.0 program.