THE GOVERNMENT announced a multi-billion pound plan for decarbonising
The plan will see households able to apply for £5,000 grants to replace their old boilers with lower carbon options.
It comes as part of an overall £3.9bn package of measures. A £60m programme was also announced to encourage innovation in heat pumps, which are currently prohibitively expensive for most households.
The Government said last night that recent volatile gas prices have demonstrated the need for the
The announcement came alongside a raft of green-focussed initiatives ahead of a summit that has become totemic for the Prime Minister.
The Government will claim £9.7bn worth of new low-carbon foreign investment has been secured, though some £6bn of this comes from an investment first announced by renewable energy firm and
CONTINUED FROM PAGE 1 The Government's plan to dish out £5,000 subsidies to households to switch to low-carbon boilers was described as a "bung" to suppliers by free market economists.
In simple terms, heat pumps take the heat from surrounding ground or air, run it over a special liquid to create a gas, then pressurises that gas until it is warmed up - and ready to be used to warm a property.
Last night
a clean heating revolution. He said his firm would install heat pumps for "about" the same cost as new gas boilers when the scheme comes into place in April.
There are also questions about how households will access the grants and whether they will push up the cost of renting further for tenants, with landlords passing on the cost.
"With much emphasis placed on incentivising households to install heat pumps, it is unclear what this means for private renters, who make up nearly a fifth of the country's household occupiers," said
(c) 2021 City A.M., source