The UK Government is investing £557 million to help public buildings and businesses reduce their energy bills and carbon emissions. This is part of the government’s ambitious plan to achieve net zero emissions by 2050.
Net zero means that the amount of greenhouse gases we release into the atmosphere equals the amount we remove. To combat global warming and climate change, many countries are trying to move towards a net zero economy.
This investment means that public buildings and businesses will get help to become more energy efficient. This includes using new technologies to save energy, better insulating buildings and installing new efficient appliances.
Public Sector Decarbonisation Scheme Receives £530 Million
Over £530 million to install energy saving and low carbon technologies for schools, hospitals and other public buildings! This expenditure is to be funded through Phase 3c of the Public Sector Decarbonisation Scheme (PSDS).
PSDS is a government initiative that helps public institutions to make their buildings more energy efficient. What does this mean?
- Schools and hospitals will require less energy to provide hot water and heat.
- Buildings will be better designed to keep cool and warm.
- Electricity consumption will be reduced, which will save money and reduce environmental degradation.
Funded Projects
- Royal United Hospitals Bath NHS Foundation Trust: Received over ₹240 crore to decarbonise three buildings with heat pumps, insulation and LED lighting!
- Loughborough University: Awarded over ₹28 crore to replace gas boilers in their Olympic size swimming pool with heat pumps.
- Surrey County Council: Received more than ₹70 crore to reduce emissions at 19 sites, including schools, libraries and fire stations.
Benefits of the Public Sector Decarbonisation Scheme
- Reduced energy bills for public sector organizations
- Lower carbon emissions from public buildings
- Improved energy independence for the UK
Industrial Energy Transformation Fund Receives £27.5 Million
Businesses that use a lot of energy will now get help to reduce their bills and carbon emissions! The Government has invested £27.5 million in the Industrial Energy Transformation Fund (IETF). The IETF is a government initiative that helps businesses in energy-intensive industries reduce their carbon footprint.
Funded Projects
- Pilkington UK: They purchased a new furnace to reduce emissions and move their glass production line into one facility.
- Sofidel: They replaced natural gas boilers in their paper mills with environmentally friendly hydrogen boilers.
- Plastipak UK: They modernized the drying system in their factory to save energy.
The government has pledged to invest in energy efficiency and this will benefit us all. This investment will save an estimated ₹825 billion in taxes annually till 2037.
This is part of the government’s commitment to spend over ₹15,000 billion on energy efficiency by 2028. This means we can use less energy and save money.