The government is issuing a public information campaign alongside grant funding to help households improve energy efficiency. Since stepping into his role as the new prime minister, energy efficiency has been a high priority for Rishi Sunak who is being urged to support vulnerable households with rising energy bills this winter.
For middle-income households, grants of up to £1,500 to improve the energy efficiency of a home are being made available. The £1bn ECO+ fund is designed to support individuals who have the capacity to pay for energy efficiency measures, such as cavity wall insulation, loft insulation, heat pumps, solar panels etc, but aren’t prioritising these investments.
The fund was launched to extend support to those who didn’t previously qualify for other schemes. However, 80 per cent of the £1bn ECO+ fund will be aimed at households with the lowest energy efficiency ratings in the country, defined as those with an EPC rating of D or lower as well as households in the lowest council tax bands.
The UK government estimates the fund will save the average consumer £310 per year. Studies by the Energy Saving Trust (EST) say loft insulation costs between £455 and £650 to install, saving households anywhere between £330 and £590 a year. Cavity wall insulation costs more at £580 to £1,800 but can save households between £235 and £690 a year.
The ECO+ fund will target 70,000 homes across the UK, covering 75 per cent of energy efficiency upgrades to people’s homes. The £18m public information campaign which will run alongside the ECO+ fund aims to improve access to energy efficiency measures and improve market visibility.
The UK government aim to reduce energy consumption from buildings and industry by 15 per cent by 2030. Energy efficiency will play a key role if households and organisations are encouraged to uptake insulation and green building technology. Chancellor Jeremy Hunt has previously stated that reducing national energy consumption by 15 per cent could equate to £28bn in national energy savings and improve the quality of properties across the country.
If you’re looking to invest in green building technology and improve the energy efficiency of your property, you can find local manufacturers and installers of insulation, solar, heat pumps, LEDs and more on the Green Economy Marketplace.