Labour Party Pledges £60 billion for home energy upgrades

As the election draws closer the manifesto promises are coming in thick and fast. Most recently Labour has promised to cut home emission by 10% through what is being described as the largest home improvement programme for decades.

The ‘Warm Homes for All’ policy would receive £60 billion of funding from a Labour government in order to implement energy saving upgrades such as loft insulation, enhanced double-glazing and new heating systems.

Low-income households would receive a grant to carry out the energy saving works on their homes, while wealthier households would receive interest free loans – to be repaid through savings on energy bills.

Labour says its proposals would create 450,000 jobs involved in the installation of energy-saving measures and renewable and low-carbon technologies and cut carbon emissions by the year 2030. Further to this, they add that the policy will reduce energy bills for 9.6 million low-income households by an average of £417 a year.

A Conservative Party spokesperson said: "The reality is that Jeremy Corbyn's plans would wreck the economy, putting up bills for hardworking families - and preventing any real progress on climate change.

It is clear that most of the political parties will be keen to display their green credentials at the election, with 27% of voters citing the environment as one of the three top issues- behind Brexit and health (YouGov survey).

If the existing (and future) government wish to achieve net zero emission by 2030 there is no doubt that the nation’s 27 million houses must form part of that plan, which account for approximately 17% of all carbon dioxide emissions.

Elmhurst are curious to know whether the existing PAS 2035 framework and retrofit industry would be utilised to deliver Labour's vision, as well as further details of their proposals. As always we remain politically neutral but it is very encouraging to see energy efficiency becoming a top priority for all parties. 

Article published 18th November 2019

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