Renewable energy firms that invest in industrial communities are set to receive more funding from the government under plans to boost low-carbon manufacturers. Let’s look at this in more detail.
Economic support for industrial heartlands
Under its Plan for Change, the government recently announced new investment to support the move to clean energy manufacturing and more highly skilled jobs in traditional industrial cities and towns. More than £3bn has already been privately invested in clean energy, and companies that invest in the most deprived regions of the UK can put in a bid for financial support to help them kickstart growth and create clean energy jobs. In addition to offshore wind developers, firms that build low-carbon factories and developers that use less polluting suppliers will be rewarded.
Move to net zero
The funding forms part of the UK’s energy transition, which aims to see it become energy-independent and achieve net zero by 2050. It will be combined with incentives for individuals to do what they can to use cleaner energy and reduce their carbon footprint. This includes grants under the Boiler Upgrade Scheme, whereby property owners can obtain financial support towards an air source heat pump, air source ground pump, or biomass boiler.
If you are thinking about finding out more about air source heat pumps Cheltenham, renewable energy specialists such as //gsmlimited.com/services/air-source-heat-pumps/cheltenham can help.
Low-income households can benefit from the Warm Homes: Local Grant from April 2025 for things such as insulation, solar panels, and double glazing.
Greener businesses
UK businesses can obtain funding to help them transition, with almost £5bn available. The government provides advice to businesses and has various tax incentives and finance arrangements for energy-efficient schemes.
Rising energy costs mean many companies are looking at ways of saving money and investing in long-term renewable solutions. Under the state-owned Great British Energy, there are plans for them to be able to be able to make the switch to cleaner, greener power.
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