How can we fund the retrofit revolution?

The South London Partnership has a very clear mission to encourage 635,000 property owners to end their dependence on fossil fuels by the NetZero target dates of 2038 – 2043 (depending on Borough).

This is an opportunity for building and energy contractors worth £17bn. But where is this money going to come from?

At present the only grant that is widely available is the £7,500 heat pump grant, so to carry out the necessary retrofit assessments, pay for a retrofit coordinator and project manager and purchase the insulation we need for a warmer home and install alternative energy solutions like solar, most of us are going to have to borrow the money and pay it back either by adding to our mortgages or by taking out a personal loan. The extra cost could be anything from £18,000 to £45,000 or more.

In most cases, the ‘green mortgage’ option is cheaper.  However, there are lots of other green finance options coming onto the market, and the range of options is set to increase as the urgency of Net Zero really starts to drive public policy.

On Thursday 2nd May 10.30-11.45, the online event Here’s the Money! – Funding for the Retrofit Revolution will bring four experts together from banking, local government, business and industry to discuss the challenge before us, and what some of the solutions are for owner occupiers and private landlords.

Make sure you know your green finance options! Register here

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David Randall



Posted 24/04/24

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