Approximately one million households, and hundreds of businesses, are set to receive extra energy support thanks to a £6 billion allocation aimed at increasing energy efficiency and reducing consumption & 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?

Enhancing energy efficiency is not only environmentally friendly but also a practical and cost-effective solution for homes and businesses alike. By adopting sustainable practices and leveraging innovative technologies, we can pave the way for a greener and more economically viable future.

Connect with us to learn more about how we can help optimise your energy usage.

01529 417571 | enquiries@mbmsltd.co.uk

Read more about the announcement here!