As a property provider in the UK, navigating the evolving landscape of energy efficiency and decarbonisation is becoming increasingly vital. With ambitious net-zero targets and stricter regulations on the horizon, undertaking retrofit projects is no longer just an option, but a necessity. However, the cost associated with these vital upgrades can be a significant barrier. The good news? There are various retrofit funding opportunities available that can help ease the financial burden and enable you to create warmer, healthier, and more sustainable properties.
The Growing Importance of Retrofit
The UK’s existing building stock is a major contributor to carbon emissions. Improving the energy performance of these properties through retrofit is crucial for meeting climate targets and tackling fuel poverty. Beyond environmental benefits, energy-efficient homes and buildings offer lower running costs, improved indoor air quality, and increased tenant comfort and satisfaction.
Furthermore, upcoming regulatory changes, such as the potential strengthening of Minimum Energy Efficiency Standards (MEES) for privately rented properties, mean that inaction could lead to properties being unlettable in the future. Proactive retrofit is therefore a smart long-term investment.
Navigating Retrofit Funding Opportunities
Securing funding opportunities can significantly accelerate your retrofit plans. While the funding landscape can be complex and subject to change, here are some key avenues property providers should explore:
Warm Homes Grant
This government-backed scheme, delivered through local authorities, provides funding for energy performance and low-carbon heating upgrades in low-income privately owned and privately rented homes with lower EPC ratings (typically D to G). While the application window for local authorities for the initial phase may have closed, it’s a significant programme demonstrating a commitment to supporting retrofit in the private rented sector for eligible properties and tenants. Keep an eye on future waves and local authority announcements.
Social Housing Fund
Specifically aimed at social housing providers, this fund supports significant retrofit projects to improve energy efficiency and install low-carbon heating in social homes below EPC band C. Wave 3 of this fund saw substantial government investment, highlighting the focus on decarbonising social housing stock. Although applications for Wave 3 have closed, the delivery of these projects will continue for some time, and future funding rounds are anticipated as part of the government’s long-term Warm Homes Plan.
Boiler Upgrade Scheme (BUS)
While not a comprehensive retrofit funding scheme, the BUS offers upfront grants to help property owners (including landlords) in England and Wales reduce the cost of installing air source heat pumps, ground source heat pumps, and biomass boilers. This is a key retrofit opportunity for those looking to transition to low-carbon heating systems.
Local Authority Schemes
Many local authorities offer their own energy efficiency grants and support programmes, often utilising funding from central government schemes like the Warm Homes Local Grant. It is highly recommended to contact the relevant local authorities where your properties are located to inquire about available funding opportunities in your specific area.
Green Finance Options
Beyond direct grants, a growing number of green finance products are becoming available, such as green mortgages and loans, designed to incentivise energy efficiency improvements in properties. Explore options from financial institutions that support sustainable investments.
Energy Company Obligation (ECO)
Energy suppliers have obligations under the ECO scheme to deliver energy efficiency measures to fuel-poor and vulnerable households. While primarily aimed at homeowners and private tenants, there can be opportunities for landlords whose tenants meet the eligibility criteria to access funding for measures like insulation.
Proving the Impact: The Role of Retrofit Validation
Securing retrofit funding is one step, but demonstrating that the funded works have achieved the desired energy efficiency improvements is increasingly important. Fund providers and regulators alike want to see tangible proof of impact, and this is where retrofit validation plays a crucial role.
Effective retrofit validation provides the data and insights needed to prove that your investments are delivering real-world benefits. It helps you:
- Meet Funding Requirements: Many grants and funding programmes require evidence of improved energy performance and compliance with standards such as PAS 2035. Validation provides this necessary proof.
- Identify Performance Gaps: Understand if the installed measures are performing as expected and identify any issues early on.
- Optimise Future Retrofits: Learn from the performance of completed projects to inform and improve future retrofit strategies.
- Enhance Property Value and Appeal: Quantify the energy savings and comfort improvements, making your properties more attractive to potential tenants or buyers.
Unlock the Potential of Your Retrofit Projects with ResiSure
At ResiSure, we offer innovative technology designed to help you validate your retrofit projects and demonstrate their effectiveness. Our smart, connected devices provide real-time monitoring of key environmental factors within your properties, including temperature, humidity, damp, mould, heat loss, and air quality, before, during, and after retrofit works are completed.
Our platform gives you the actionable insights you need to:
- Prove Compliance: Easily demonstrate that your retrofit meets relevant standards and requirements for funding.
- Measure Impact: Quantify the improvements in energy efficiency and indoor environment quality.
- Identify and Prevent Issues: Proactively address potential problems like heat loss or damp that could undermine your retrofit investment.
- Support Future Funding Applications: Use robust data to strengthen applications for future retrofit funding opportunities.
By partnering with ResiSure, you gain a powerful tool to not only ensure your retrofit projects are successful but also to unlock and validate the retrofit funding available to property providers.
Ready to explore how our innovative technology can help you validate your retrofit projects and access funding? Get in touch with us today.