$100m from clean energy bank for cities

Australia's clean energy bank will set aside $100 million each year for energy efficiency and renewables as part of the federal government's smart cities plan.

Prime Minister Malcolm Turnbull announced the new investment fund within the $10 billion Clean Energy Finance Corporation to deploy value-for-money clean energy and power-saving technologies to cities.

"That could include better lighting, it could include better traffic management, it could include better water management," Mr Turnbull told reporters in Sydney on Monday.