Updated: 09/04/2014 01:15

8 developers to tap on the $52 million GBIC fund set up by the Building and Construction Authority

8 developers to tap on the $52 million GBIC fund set up by the Building and Construction Authority

Eight building developers and academic institutions have expressed interest to tap on the $52 million research fund to test and showcase green building solutions. 

The fund was set aside for the Green Buildings Innovation Cluster or GBIC.

It's one of the several initiatives under the third Green Building Masterplan unveiled two days ago. 

A smart device to allow home owners to monitor and control their energy consumption. 

That's what property developer, City Developments hopes to have in two years time. 

It's Senior Vice-President is Allen Ang. 

"We are coming up with cost-effective smart energy solutions for homes and this GBIC fund will come in handy which will help us to defray some of our investment costs." 

Speaking at an industry event, Senior Minister of State for National Development Lee Yi Shyan says GBIC will focus on several areas that can yield significant energy efficiency gains such as more efficient air-conditioning systems. 

"GBIC will help build up research and development capabilities, conduct demonstration projects and "match-make" academia and industry to accelerate the adoption of novel technologies." 

Mr Lee also announced a new national repository to help industry players access data on energy efficiency. 

This, he said would help the building industry gain confidence in adopting innovative technologies. 

Programme Director of Nanyang Technological University's Energy Research Institute, Nilesh Jadhav, sees benefits to this. 

"You need to know what exactly your consumption is and which part of your system is consuming, is it the air-con, the computer. So often you can analyse the data and you can find out how the energy has been wasted. So if can get occupant data, temperature data and analyse the data in a much more integrated way, we can have a much better solution and can save costs." 

Developers with energy saving projects can apply to the Building and Construction Authority. 

More details will be announced at a later date. 

-By Lim Jia Qi

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