Energy Saving Trust's response to the UK government's announcement of a £3 billion green stimulus investment
We welcome this morning’s announcement for a £3 billion green stimulus investment with a £2 billion focus on improving home energy efficiency and heating.
As we have previously highlighted, investment in insulating homes will generate thousands of jobs where they are needed most. This winter, with an economic downturn and Covid19 not yet fully beaten, will be challenging for many households. The government's investment will not only create jobs but also protect people through the winter by delivering lower energy bills and warmer homes.
This is the first major government-funded energy efficiency programme in England since 2013 and as such is a good first step for Boris Johnson's administration in fulfilling a manifesto commitment of £9bn spending in energy efficiency over the course of this parliament. The money will take many homes towards the government's 2035 target of an energy efficiency standard of "C." Ensuring all homes reach this level of adequacy is vital for net zero. Currently over two third of homes, around 16 million in England fall below this standard.
Mike Thornton, CEO of the Energy Saving Trust said “It is great to see the Government recognise that energy efficiency in homes is a vital part of any green recovery and this money will create jobs and reduce fuel bills throughout the country. We also welcome it as a good first step towards making sure all homes reach the minimum energy efficiency standard essential to achieve climate emergency carbon targets”