The Green Finance Institute has launched a new taskforce in the hope of unlocking the investment needed for the rapid adoption of zero-carbon heating technologies in the UK.
The Zero Carbon Heating Taskforce comprises a focused group of members from the Green Finance Institute’s Coalition for the Energy Efficiency of Buildings (CEEB) from financial services, local and national government, energy and construction industries, academia and civil society – along with experts from the heating sector.
Members of the Taskforce include individuals from The Association for Decentralised Energy (ADE), BEIS, Centrica, E.ON, Enfield Council, Greater London Authority (GLA), Octopus Energy, Vattenfall, and the Welsh government.
The Taskforce will conduct a focused review to identify the barriers and enablers to investment into low-carbon heating across the UK housing market, including homes that are both on and off the gas grid, new builds, and district heating networks.
The Taskforce will then leverage the findings to co-design and launch a series of new financial products and non-financial enablers that, in theory, will increase investment in the sector.
Dr Rhian-Mari Thomas, chief executive of the Green Finance Institute, said: “Focusing on the heating and hot water in our homes is a natural next step for the Coalition for the Energy Efficiency of Buildings, which is working to create financial pathways to the wide-scale adoption of retrofitting across all residential tenures.
“We are delighted to convene this group of experts to move quickly to launch financial products and mechanisms enabling every home to access zero carbon heating.”
Heating and hot water in homes account for close to 40% of the UK’s energy consumption – and 20% of total greenhouse gas emissions.
Research has shown that, to meet the UK government’s 2050 net-zero targets, near-complete decarbonisation of the the heating systems in homes is needed.
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