£1.8bn Awarded to Cut Emissions in English Buildings
The UK government is set to distribute almost £2 billion in funding to improve the energy efficiency of over 115,000 homes in England. This move will not only help residents save money on their bills but also promote energy efficiency.
To finance energy-saving measures such as loft insulation and new windows, the Social Housing Decarbonisation Fund and Home Upgrade Grant will receive a combined sum of £1.4 billion. Furthermore, £1.1 billion in match funding from local authorities, social housing providers, and charities will increase the total investment to £2.5 billion, which will be used to upgrade both social and private homes in England.
The allocated funds will be directed towards vulnerable households and homes that are off the gas grid and have a low Energy Performance Certificate (EPC) rating of C or below. Residents of such homes can expect to save between £220 and £400 a year on energy bills after the upgrades.
The implementation of these schemes is expected to create approximately 20,000 jobs in the construction and home retrofit industries, which will aid in boosting the economy, creating higher-paying jobs, and supporting families throughout the nation.
In addition to the previously mentioned funding, an extra £409 million has been awarded through the Public Sector Decarbonisation Scheme, which will be used to aid public sector buildings like hospitals and schools in lowering their carbon emissions.
Upgraded heating systems, which will be powered by renewable energy, will decrease the use of fossil fuels, which are subject to fluctuating global energy prices. This move will not only support thousands of jobs but also save taxpayers hundreds of millions of pounds.
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Source: OGV Energy
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