By November 2024, the UK government will have several incentives in place to encourage both homeowners and landlords to enhance the energy efficiency of their properties.
The UK’s wider plan to reach net-zero carbon emissions by 2050, in addition to cutting energy bills and enhancing the quality of life, includes these incentives.
Warm Homes Plan
Launched in September 2024, this drive intends to raise more than one million homes above the fuel poverty line. Basically, it focuses on one thing: the enhancement of energy efficiency standards. Key parts of the initiative are the Warm Homes: Local Grant and the Warm Homes: Social Housing Fund, both of which support energy performance upgrades necessary for achieving the targets set out in the Fuel Poverty Strategy.
Source: GOV.UK
Boiler Upgrade Scheme
This program gives money to homeowners to replace fossil fuel heating systems with low-carbon alternatives, like heat pumps. The amount of the grant has been increased to £7,500, making it one of the most kind European schemes in paying for the kind of thing to which this scheme pays. This is all done in the name of “encouraging the reduction of carbon emissions from heating homes.”
Source: GOV.UK
Social Housing Decarbonisation Fund
The government set aside more than £75 million in March 2024 to enhance nearly 8,800 social homes with energy-efficient measures, including insulation and heat pumps. Social housing tenants in these residences are expected to see their annual energy bills shrink by about £400 after the improvements.
Source: GOV.UK
£1 Billion Social Housing Retrofit Initiative
Launched in October 2024, this initiative, launched in collaboration with Barclays UK Corporate Bank and Lloyds Banking Group, offers an impressive £1 billion to carry out renovations on social housing across the UK. The aim of these renovations is twofold: to step up the energy efficiency of the homes and to reduce the carbon footprint of social housing.
Source: Energy Live News
Energy Company Obligation (ECO) 4 Scheme: This government program requires energy firms to finance the installation of energy-efficient measures in qualifying homes, with a focus on those inhabited by low-income individuals or under certain government benefits. The direct measures undertaken can include anything from low-cost insulations to complete heating system replacements—efforts aimed specifically at reducing energy consumption.
Source: The Scottish Sun
Aspecte offers a full-service property retrofit, inclusive of every part of a modern, sustainable home. If you want to know exactly how we can support you in this initiative, from solar panels to loft insulation, don’t hesitate to get in touch with us.