The Coalition for the Energy Efficiency of Buildings (CEEB) – a cross-sectoral collaboration of over 200 individuals, established by the Green Finance Institute with support from E3G in 2019 – has released a report looking at ways the UK can finance its zero carbon heating goals.
Financing zero carbon heat: turning up the dial on investment is an analysis of the investment barriers to widescale decarbonisation of the UK’s domestic heating and details of a portfolio of 12 financial solutions and policy, regulatory and data enablers to overcome them, turning the challenges into an opportunity for the finance sector and a green economic recovery.
In Autumn 2020, the CEEB assembled the action-focused Zero Carbon Heating Taskforce, an expert group of over 50 member organisations from the finance, energy and construction sectors, as well as local and national government. The taskforce collaboratively designed a portfolio of financial mechanisms and enabling policies, informed by in-depth analysis of the challenges that individual, social and institutional residential owners experience on their heat decarbonisation journey. In the next phase, the CEEB and its members will bring these scalable solutions to market.
Dr Rhian-Mari Thomas, Chief Executive of the Green Finance Institute, said: “The finance sector has a critical role to play in enabling the decarbonisation of our heating: it must offer products that make the decision affordable. The Zero Carbon Heating Taskforce’s solutions are practical, scalable, and focused on presenting homeowners, landlords, and institutional investors with attractive ways to access funding and new savings options. They’re also backed by recommendations for the fiscal and policy incentives required to support their roll-out.”
The report assesses the investment barriers to zero carbon heating across the UK housing market – including on and off gas grid homes, newbuilds and district heating networks – and presents a portfolio of 12 ‘demonstration projects’ that were collaboratively designed by the Taskforce members to directly address the challenges identified. The portfolio includes financial mechanisms for consumers and institutional investors, energy service products and capacity building tools, supported by fiscal and policy incentives to bolster the commerciality and scalability. The demonstration projects include:
The Green Finance Institute and its supporters will bring to market the portfolio of demonstration projects in 2021 and beyond.
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