Concept welcomes £3bn energy efficiency funding pot for UK buildings
Chancellor Rishi Sunak announced a new package of measures to boost jobs and the economy today, which earmarked funding to stimulate a green recovery and ‘build back better’.
The Summer Economic Update included a £3 billion green investment package that the government says could help support 140,000 green jobs, as well as reducing emissions from buildings. £1 billion of this will go to fund energy efficiency projects in public sector buildings, such as schools, hospitals and council buildings. £2 billion will go into a Green Homes Grant, to pay for green improvements such as loft, wall and floor insulation.
Peter Stockwell, Managing Director of Concept Energy Solutions said, “Reducing the carbon footprint of UK buildings will be a crucial part of meeting the UK’s net zero target, so we welcome these first steps to drive energy efficiency in public sector buildings and homes. We hope to see more measures announced in the Autumn Budget, in line with the Conservatives’ Manifesto pledge of £9.2bn for energy efficiency retrofits.”
Summer Economic Update: the green announcements:
- A Public Sector Decarbonisation Scheme: £1 billion of grants to public sector bodies, including schools and hospitals, to fund both energy efficiency and low carbon heat upgrades.
- A Social Housing Decarbonisation Fund – to help social landlords improve the least energy-efficient social rented homes, starting with a £50 million demonstrator project in 2020-21 to decarbonise social housing.
- A £2 billion Green Homes Grant – providing at least £2 for every £1 homeowners and landlords spend to make their homes more energy efficient, up to £5,000 per household. For those on the lowest incomes, the scheme will fully fund energy efficiency measures of up to £10,000 per household. The scheme aims to upgrade over 600,000 homes across England, saving households hundreds of pounds per year on their energy bills.
- Courts sustainability – £40 million to improve the environmental sustainability of the courts and tribunals estate in England and Wales, investing in initiatives to reduce energy and water usage.
- A Green Jobs Challenge Fund: £40 million for environmental charities and public authorities to create and protect 5,000 jobs in England. The jobs will involve improving the natural environment, including planting trees, restoring habitats, clearing waterways, and creating green space for people and wildlife.
- Direct Air Capture – £100 million of new funding for researching and developing Direct Air Capture, a new clean technology which captures CO2 from the air.
- An Automotive Transformation Fund – £10 million of funding for the first wave of innovative R&D projects to scale up manufacturing of the latest technology in batteries, motors, electronics and fuel cells. The government also said it is calling upon industry to put forward investment proposals for the UK’s first ‘gigafactory’ and supporting supply chains to mass manufacture cutting-edge batteries for the next generation of electric vehicles, as well as for other strategic electric vehicle technologies.