UK Government Invests £300 Million in Green Home Upgrades

Strategic Insights -

The UK Government has announced £300 million in extra funding for green home upgrades, bringing the total spending on energy efficiency measures to £1.3 billion. The new funding will be delivered through local authorities in England, focusing on energy saving upgrades and low carbon heating schemes for low-income households. This announcement is part of the Government's manifesto commitment to increase the energy efficiency of homes, schools, and hospitals, and is set to support around 58,000 jobs.

Key Takeaways:

  • The UK Government has invested an additional £300 million in green home upgrades, taking the total spending on energy efficiency measures to £1.3 billion.
  • The new funding will be delivered through local authorities in England, focusing on energy saving upgrades and low carbon heating schemes for low-income households.
  • The funding will help tens of thousands more low-income households to cut emissions and save money on their energy bills.
  • The Green Homes Grant Voucher Scheme will close to new applications on 31 March 2021, but applications made before the deadline will be honoured.
  • Home upgrades can help households save over £300 a year on their energy bills.
  • The announcement takes the total government funding for energy efficiency and low carbon heating to over £1.3 billion, exceeding the Government's manifesto commitment in the early years of the parliament.
  • The funding is part of the Government's £9 billion pledge to increase the energy efficiency of homes, schools, and hospitals to build back greener.
  • Business and Energy Secretary Kwasi Kwarteng said that upgrading the country's homes with energy efficiency measures means cutting emissions and saving people money on their energy bills.
  • The original £500 million Green Homes Grant Local Authority Delivery Scheme is already helping around 50,000 households in England save hundreds of pounds each year on their energy bills.
  • Through the extended scheme, tens of thousands more households with incomes of less than £30,000 will not have to make any financial contribution to energy efficiency improvements to their homes.

Statistics:

  • £300 million extra funding for green home upgrades
  • £1.3 billion total spending on energy efficiency measures
  • £300 per year saved on energy bills for households undergoing home upgrades
  • 58,000 jobs supported through the Government's manifesto commitment to pledge over £9 billion to increase the energy efficiency of homes, schools, and hospitals
  • 50,000 households in England already benefiting from the £500 million Green Homes Grant Local Authority Delivery Scheme
  • 70,000 tonnes of carbon cut from the atmosphere each year through the extended scheme

Sources:

  • The UK Government's news release
  • The Prime Minister's Ten Point Plan for a Green Industrial Revolution
  • The Energy White Paper