Connect with us

Top Stories

UK to increase grants to help homeowners ditch gas boilers

UK to increase grants to help homeowners ditch gas boilers 1

LONDON (Reuters) – Britain will increase grants to homeowners to remove their gas boilers and replace them with greener technology such as heat pumps as the government tries to tackle one of the biggest challenges to achieving a net zero emissions target by 2050.

The government will provide grants of 5,000 pounds ($6,859.50) for homeowners to install more environmentally friendly heating systems as part of a 450 million pound boiler scrappage programme.

“As we clean up the way we heat our homes over the next decade, we are backing our brilliant innovators to make clean technology like heat pumps as cheap to buy and run as gas boilers,” Prime Minister Boris Johnson said in a statement.

The announcement come two weeks before Britain hosts the next key round of United Nations climate talks in Glasgow, when world leaders will discuss plans to tackle climate change.

COP26, which begins on Oct. 31, aims to secure more ambitious action from the nearly 200 countries that signed the 2015 Paris Agreement to limit global warming to well below 2.0 degrees Celsius above pre-industrial levels.

The increase in grant money to remove gas boilers is part of a net zero strategy that will be released on Tuesday outlining how the government plans to hit the pledge to bring carbon emissions down to net zero by the middle of this century.

The government said it wanted to make heat pumps cost the same to buy and run as gas boilers by 2030, with big cost reductions of between a quarter and a half by 2025.

(Reporting by Andrew MacAskill; Editing by Alex Richardson)

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now