Government Announces £6 billion Energy Efficiency Investment
Approximately one million households, and hundreds of businesses, are set to receive extra energy support thanks to a £6 billion allocation aimed at reducing energy consumption and spending.
Where Is It Going?
The government is set to invest up to £12.6 billion by 2028 to promote the creation of tens of thousands of environmentally-friendly jobs, whilst aiding residences, medical facilities, educational institutions, and enterprises in achieving cost savings and reduced carbon emissions.
Boiler Upgrade Scheme (BUS) – £1.5 billion
This grant assists families, in England and Wales, in transitioning from gas to energy-efficient, low-carbon heat pumps to promote sustainability and environmental responsibility.
Social Housing Decarbonisation Fund (SHDF) – £1.25 billion
The SHDF enables the retrofitting of up to 140,000 social homes, enhancing energy efficiency and reducing utility costs through the implementation of insulation, solar panels, and other energy efficient measures.
Green Heat Network Fund (GHNF) – £485 million
This facilitates affordable access to low-carbon heating for up to 60,000 homes and buildings by establishing new heat networks, aiming to decrease reliance on fossil fuels and ensure a more dependable and sustainable heating solution.
Industrial Energy Transformation Fund (IETF) – £225 million
The IETF will continue to aid businesses in their transition towards a low-carbon future.
Heat Network Efficiency Scheme (HNES) – £45 million
This scheme aims to enhance approximately 100 existing heat networks, lowering costs and enhancing reliability for consumers.
New Schemes/Grants – £900 million
Two new schemes are set to provide assistance to a maximum of 60,000 residences facing low-income challenges and not connected to the gas grid. This support involves implementing measures like insulation to enhance living conditions, and making necessary radiator changes to increase the energy efficiency of properties.
Need Assistance?
The journey towards enhanced energy efficiency for both homes and businesses is not only an environmental imperative but also a practical and economic necessity. By adopting a comprehensive approach that includes leveraging modern technology and implementing sustainable practices, we can pave the way for a brighter, more efficient future.
Connect with us to learn more about how we can help optimise your energy usage.
01400 250572 | info@radiant-renewables.co.uk
Read more about the announcement here!