18 December 2023
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Commenting on the Government’s plans to invest £6 billion a year on heat and energy efficiency improvements, Tamsin Lishman, CEO of The Kensa Group said:
“Long-term policy certainty is the most critical factor in delivering business investment, and this is particularly true of an emerging sector like ours. Today’s confirmation of how the government will spend £6 billion/year supporting heat pumps and energy efficiency improvements provides businesses with a clear five-year time frame of support, giving certainty of continued market growth.
“Critically, today’s announcement provides an enhanced spending envelope across building sectors, including private homes, social housing, the public sector and business. It is particularly promising to see a tripling of the Boiler Upgrade Scheme budget, providing support for almost 70,000 heat pump installations a year, up from 20,000 today. This gives us the confidence to continue investing in and expanding our British manufacturing facilities and supply chains, providing jobs and economic growth for the British economy.
“It is vital that the government now builds on this announcement and continues to build the best possible green investment environment in the UK that will underpin the transition to net zero. This includes a rapid introduction of the Future Homes Standard, ensuring heat pumps and heat networks are the default choice for new homes, as well as action to address the UK’s artificially high electricity prices, ensuring that clean heat can become the lowest-cost as well as the lowest-carbon choice for homes."
