By Ben Kerrigan-
The UK government has allocated £6 billion to assist around a million homes and hundreds of businesses in cutting their energy use and bills.
The funding, part of the government’s commitment to reducing carbon emissions and creating a greener future, will provide targeted support to 200,000 low-income, cold, and social homes.
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The comprehensive plan encompasses a range of measures aimed at improving energy efficiency and reducing emissions. Approximately 500,000 homes will benefit from insulation, while additional grants for heat pumps will be extended to hundreds of thousands more.
The success of the Prime Minister’s 50% increase in the heat pump grant, now at £7,500, has already led to a 57% surge in applications. Building on this momentum, an extra £1.5 billion has been allocated to the Boiler Upgrade Scheme to facilitate the installation of heat pumps in more homes and businesses.
Energy Secretary Claire Coutinho emphasized the priority of cutting energy bills, stating, “Today’s funding will help those who are most in need and keep around a million more families warm during winter.”
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The initiative reflects the government’s commitment to ensuring that everyone lives in a warm, energy-efficient home. Progress has already been made, with nearly 50% of properties in England now having an Energy Performance Certificate of C, up from just 14% in 2010.
Chancellor of the Exchequer Jeremy Hunt highlighted the importance of investing in energy efficiency to curb inflation driven by international gas prices.
He stated, “This investment will support households and businesses across the country to make greener choices in a way that doesn’t add a burden to working people.”
The £6 billion allocation supplements the £6.6 billion capital funding already committed from 2022 to 2025. This additional funding will offer vital support to up to 200,000 families in poorly-insulated, low-income, or social homes, aligning with the government’s commitment to keeping energy costs down for families and businesses.
Greg Jackson, CEO of Octopus Energy, praised the government’s increased certainty, stating, “This increased certainty from government enables us to invest with confidence and will unlock cheaper, cleaner heating for the UK.”
Mike Thornton, Chief Executive at Energy Saving Trust, underscored the significance of the schemes and additional funding, stating, “We welcome these new schemes and additional funding, which will help provide much-needed incentives to encourage more people to upgrade their homes.”
Looking ahead, new homes and buildings will be zero-carbon ready from 2025, saving costs for families and aligning with the nation’s commitment to clean heating. The Future Homes and Buildings Standards will ensure that new constructions meet net-zero ambitions.
The comprehensive plan also includes schemes such as the Boiler Upgrade Scheme, a new energy efficiency grant, a local authority retrofit scheme, the Social Housing Decarbonisation Fund, the Green Heat Network Fund, the Heat Network Efficiency Scheme, and the Industrial Energy Transformation Fund.
These initiatives aim to create tens of thousands of green jobs while assisting homes, hospitals, schools, and businesses in saving money and transitioning to a sustainable future.
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