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The warm homes fund will save you thousands on bills
MILLIONS of Brits could become energy bill-free as the government lays out plans to invest in solar panels.
Households will soon be eligible for grants to install green energy resources in an attempt to create new “zero bill” homes.
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Next month, Energy Secretary Ed Miliband will share how he plans to reduce carbon emissions from Britain’s homes by spending £13bn on green energy, according to The Times.
Labelled the Warm Homes Fund, the money will be spent on means used to cut the cost of energy bills.
He plans to invest billions of pounds into solar panels, batteries and heat pumps.
The new measures will save Brits thousands each year and potentially scrap energy bills entirely.
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Ministers’ investment in green energy looks like the government may succeed in fulfilling its pledge to cut bills by £300 by the next election.
While the details have not yet been made public, it is expected that all households will benefit and poorer households will get greater help with upfront costs.
Using solar energy is considered the cheapest and most efficient way for households to reduce their bills.
British households are already saving hundreds of pounds each year by introducing efficient upgrades to their home.
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A poll of 2,000 adults responsible for paying the bills found 63 per cent have invested in home energy efficiencies, with a quarter doing so in the last year.
The average household estimates this has made an annual saving of £283.90.
The most popular home improvements that have been made include draught proofing, boiler upgrades, and insulation.
And 3.3 million smart meters were installed in British homes in 2023.
The UK’s largest energy supplier, Octopus Energy, claims that even without government support, households could save up to £90 a month by using green energy.
The study, commissioned by Smart Energy GB, found that in addition to making savings on their energy, the average bill payer believes they have increased their average house value by £2,934.60 by making certain improvements.
It shows that improving a home’s Energy Performance Certificate (EPC) rating from F to C could increase its value by up to 15% – which for the average home means an extra £55,848.
The Department for Energy Security and Net Zero said: “We are investing an additional £1.5 billion into our warm homes plan, taking it to nearly £15 billion — the biggest ever public investment to upgrade homes and tackle fuel poverty ever.
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“We are doubling down on support for home upgrades and will set out our plans to help households, and support thousands more clean energy jobs soon.”
The Home Builders Federation said it backed fitting more panels but cautioned against introducing “burdensome” paperwork which it said could harm government efforts to build 1.5 million new homes by 2029.
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