New investment to cut emissions and save money on energy bills
A £24M investment in green homes has been announced by the Government, alongside more funding to cut emissions from homes and businesses.
Pilot projects in Cornwall, Nottingham and London that feature clean technology and insulation will be undertaken with the aim of saving money on making homes energy efficient.
‘Whole house retrofits’ will include external wall insulation, underfloor insulation, clean heat pumps and ventilation systems in almost 350 flats and houses across the three projects.
The package also includes £14.6m for a trial to roll out heat pumps in a range of homes in Newcastle, south east England and south east Scotland, and £1.8m to develop green home finance products to help owners improve their properties.
Funding has been awarded for district heating schemes which heat a number of buildings on a single network, including one in Gateshead to use heat stored in flooded abandoned mines for up to 1,250 new homes.
The money also includes £30m for heavy industry such as steel plants and car factories, allowing them to apply for grants to install technology to reduce their energy bills and cut carbon pollution.
The industrial energy transformation fund (IETF) will be worth £289m in England, Wales and Northern Ireland up to 2024, and aims to bring down the cost of the kind of technology needed to cut emissions from heavy industry.
Energy Minister Kwasi Kwarteng said: “We want to invest now to ensure we continue to propel the UK towards a stronger, greener future.
“This new £80m investment will help to reduce emissions across our economy, which will save people money on energy bills and protect jobs in heavy industry.”
Phase 1 of the IETF, for which guidance is published now, is worth an initial £30m in support of the manufacturing sector.
The fund allows companies with high energy use to apply for grants to install technology that reduces their energy bills and cuts carbon emissions.
It will be worth an eventual £289m in England, Wales and Northern Ireland up until 2024.
The IETF also seeks to help bring down the costs of technologies that reduce energy consumption and emissions.