A new report from the Sustainable Markets Initiative, highlights the important role that electrified ‘cleantech’ homes can play in reducing energy bills.
The report reveals that energy bill savings can offset extra build costs, with total cost of ownership savings potentially reaching up to £18,500 over 25 years.
The report highlights substantial industry progress over the last two years, including 18% of new homes having heat pumps and more than 11,000 heat pump engineers trained. Despite these gains, the initiative claims that further acceleration is needed if the UK is to meet its net zero targets.
Accelerating the transition could be achieved by phasing out gas boilers in new builds, removing green taxes from electricity bills, and supporting retraining for low-carbon technology installation and maintenance.
In line with the call for bolder action, contributors to the report have made several pledges including Hill Group committing to installing its final boiler this year, Rightmove promoting heat pumps in property listings, and UK Power Networks easing grid connections for cleantech homes.
The report has been produced as part of the Sustainable Markets Initiative Cleantech Homes Lighthouse Project aiming to reshape the future of housing, and developed with leading UK property and mortgage experts such as Baringa, Rightmove, Lloyds Banking Group, Bellway, Hill Group, Savills, and UK Power Networks.
Greg Jackson, founder of Octopus Energy, says: “Homes with heat pumps, solar panels and batteries can make big bills a thing of the past. Sometimes we can eliminate power bills completely.
“With the price of all these technologies falling it’s a cost effective way to cut power bills while also slashing a big chunk of the UKs climate emissions. It’s time to get on with it, which is why we’re calling for bolder action to accelerate the electrification of home heating.”
The Sustainable Markets Initiative was launched by King Charles in 2020 to convene top organisations from industry and financial services, alongside governments to accelerate a sustainable and prosperous future. The new report has been produced as part of the Sustainable Markets Initiative Cleantech Homes Lighthouse Project, which involves leading UK businesses committed to net-zero.
Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.
.png)
(1).png)
.png)
Join the conversation
Jump to latest comment and add your reply
They can stuff their heat pumps anywhere they want to, not in my property. (I let you imagine where I wish the heat pumps would go.)
Clean tech in new homes should've been mandatory for years! Instead they want to foist the huge cost of an expensive & possibly impractical retrofit on home owners & LLs! If new homes had had gas boilers banned by 2106 ,as was the original plan, think how many installers we might have trained & how 'normalised' heat pumps might have become? Instead there is now this impossible rush to force people into having a technology they can't afford, don't want & which may not suit their properties!
Cleantech does not exist, and each heating system pollutes differently. It is all a big marketing gimmick. Plus, for those who believe in global warming, why worry when the Sun is going to generously heat us more and more, year after year?
I noticed in the article there was a lot of ''up to'' and ''sometimes''
Saving ''up to'' 18.5k over 25 years equates to 14quid a week and is the high end of their estimates. I might as well say realistically it will be between 1.50 - 3.57 per week you can save but that would not float the boat or suit the narrative.
Coal and nuclear fired power stations , how very unclean !!!
yet very efficient which is why China and India are building them as fast as they can. They keep working when the wind doesn't blow and the sun doesn't shine.
Many properties CSNT have heat pumps installed. Like blocks of flats. No help for em either.
Carpetbaggers 😂💰, Smoke &Mirrors is what they all use to make a buck 💵, no thanks👎🏻
Oh get stuffed with your heats pumps you silly morons. Who the hell is going to change an efficient 2k boiler with a 10k heat pump which is totally garbage and costs God knows how much to maintain? Get stuffed.
These utterly irresponsible, useless people have put the country into massive debt with their stupid policies and decisions and now pass the buck on to us with their nonsense ''install a heat pump, honestly, it will be great''. Yeah, I really trust you lying, useless nobodies.
These same people, who built no infasturcture, no metros, no clean electricity (nuclear), absolutely nothing. They have done nothing and pass the buck onto people to spend from their own pocket. They're disgusting creatures. They are telling us to install electric products when the electricity is not even clean!!! This is beyond any kind of sense. It's shocking how this country is run. When the hell are people going to wake up and rise beyond this insane nonsense?
Getting rid of our gas supply when the electricity is not even clean is suicidal and more importantly non-sensical.
Have you met Gibbo?
No pal, who is he?
You are in for a Treat Dani
Please login to comment