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25th May 2022|News|Sales|Lettings|BTR & Asset Management|Estate Management|

Government Boiler Upgrade Scheme – What You Need To Know

In line with the government’s pledge to slash emissions by 78% by 2038, a new scheme has been opened in the UK to promote boiler upgrades to more energy-efficient models. The Boiler Upgrade Scheme, or BUS, is now accepting applications from households across England and Wales to install low-carbon heating systems at a vastly reduced cost to the consumer.

The scheme aims to make environmentally friendly energy more accessible across the UK by providing grants of up to £5,000 for the installation of biomass boilers and air source heat pumps, as well as an additional £6,000 reduction in installation costs. It constitutes a significant movement by the government to reduce the environmental impact of day-to-day living, and is preceded by the recent alterations made to Energy Performance Certificate ratings in rental properties. With £3.9 billion being set aside by the government to make all heating systems low carbon, the shift towards carbon neutrality and a more sustainable future for Britain seems to be within the hands of British homeowners and landlords.

The scheme couldn’t come at a better time for homeowners and landlords considering the astronomical rise of energy costs across the UK. The Boiler Upgrade Scheme offers an opportunity to better the energy efficiency of your property, and save on energy costs in the long-run, at a significantly reduced initial instillation cost. It is a tempting proposition for landlords whose tenants may be struggling to keep up with the cost of living crisis.

Many households are already submitting their applications, which is also open to landlords and second-home owners, provided that they are able to show a valid EPC without any insulation recommendations. The government has set aside £450 million for the scheme, which is due to conclude in 2025, and its benefits are accessible for the vast majority of households across the country.

 

For more information on how to get the most out of the government’s BUS grant, or how to keep your property energy efficient, contact Centrick today.