Tag: Energy Security and Net Zero Department

The press release issued by the Department of Energy Security and Net Zero on 11 July 2023.

Joint UK-US statement on Climate Finance Mobilisation Forum that encouraged philanthropists and financiers to increase support for emerging markets and developing countries in tackling the climate crisis.

In a gathering at Windsor Castle, President Biden and His Majesty King Charles III heard from leading philanthropists and financiers who are helping to catalyze finance to support emerging markets and developing countries in tackling the climate crisis. The gathering followed the Climate Finance Mobilisation Forum, convened by the UK Energy Security and Net Zero Secretary Grant Shapps and US Special Presidential Envoy for Climate John Kerry, and inspired by the work of His Majesty the King.

This gathering builds on longstanding UK-US efforts to turbocharge the net zero, resilient transition already underway in developing and emerging economies on the road to COP28. The Forum brought together key players to identify how we can go further faster to mobilize the private investment needed to expand clean and renewable energy across the globe, reduce potent non-CO2 emissions, halt deforestation and restore forests, and build resilience to a changing climate.

Recognizing the scale and urgency of the climate crisis, the gathering emphasized the importance of partnership across governments, philanthropies, and investors – given that no single actor can mobilize finance at the scale required by acting alone. The scale of this transition requires trillions in private investment in addition to the public funds we are spending. It is also one of the biggest investment opportunities in history. Private sector financial institutions and philanthropists announced a range of new investment platforms and initiatives during the event that demonstrated their commitment to concrete actions to finance efforts in Africa, Asia and Latin America. These efforts will help reduce emissions and boost climate resilience – while generating jobs in local communities and growing their economy.

Building on this important event, COP28 in the United Arab Emirates will host a High-Level Business & Philanthropy Delivery Forum during the World Leaders Climate Action Summit. The Forum will focus on removing barriers to progress, showcasing what is working, and identifying opportunities for collaboration, and acceleration.

Key announcements

Key announcements included:

Builders Vision, Mitsui & Co. and Renewable Resources Group Partnership will identify over $1 billion of Nature-Based Solutions Projects in Emerging Markets through a new venture they are pursuing to address impacts of climate change across critical supply chains in agriculture, natural resources development, and energy. The firms seek to cooperate on activities globally where nature-based solutions – such as regenerative farming, agroforestry, and sustainable water management – can be used alongside best-in-class technology solutions and local community expertise to develop products and systems that reduce negative environmental impacts and create sustainable and mutually beneficial outcomes. These firms will identify at least $1 billion of initial project opportunities in emerging markets where investors and corporations can deliver on carbon neutrality and sustainability pledges via direct investment and supply chain participation. Potential initial investment projects span highly biodiverse and at-risk climate regions, including areas of Central and South America, the Middle East and North Africa with ambition to expand to sub-Saharan Africa and East Asia over time. Cooperation and collaboration with multi-national corporations, governments, family farmers, and others is welcomed to support these opportunities.

Builders Vision is also committing $100 million in oceans-related investments and grants in emerging markets focused on blue carbon ecosystem conservation, oceans carbon dioxide removal, shipping decarbonization and advancing wind energy.

LeapFrog Investments, an impact investment firm operating in emerging markets, has committed to investing $500 million in companies that are addressing climate change in Africa and Asia. Their aim is to provide green tools and technologies to 50 million low-income people, enabling them to improve their lives and livelihoods. This investment will focus on supporting companies in the built environment, energy, mobility, and food sectors, which are key areas for a green transition. By 2030, overall investments in these 4 sectors alone could help reduce greenhouse gas emissions substantially and could create an estimated 90 million new jobs in developing countries.

The Tony Elumelu Foundation (TEF) is launching a $500 million Coalition for African Entrepreneurs, to catalyse a further 100,000 young African entrepreneurs and small businesses, focusing particularly on fragile states, women entrepreneurs, and green entrepreneurship. The Foundation has, since 2015, connected over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly $100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Coalition is open to development agencies, the global private sector, philanthropic organisations, and governments to create meaningful change and empower Africa’s next generation. Creating a green entrepreneurial revolution is fundamental to the Coalition, as we embed sustainable practices and solutions across the next generation.

The Sustainable Market Initiative (SMI) has announced its Terra Carta Accelerator Fund with a target of £100 million. The initial focus of the Accelerator Fund will be to bring natural capital projects, with climate co-benefits, to investability and scale with a focus on emerging and developing markets.  It also aims to pilot Nature and climate-aligned supply chain transitions across industries globally.  The Accelerator Fund builds on a challenge from His Majesty King Charles III to ensure the private sector is helping to scale a minimum of 5 land-based and 5 marine-based projects a year to 2030 as a significant contribution to the Global Biodiversity Framework including the effective conservation and management of at least 30% of the world’s land, coastal areas and oceans in addition to the restoration of 30% of terrestrial and marine ecosystems. The members of the Sustainable Markets Initiative’s Financial Services Task Force have committed over $8.9 trillion to support the transition to net zero by 2030 (or sooner) and have already provided and mobilized over $2.5 trillion in capital as part of those commitments since 2020 to 2021.

Forrest Group (Fortescue, Minderoo Foundation and Tattarang) will pursue a unique portfolio of blended philanthropic, private and public finance with 7 priority actions to continue the scale-up of its green metals and green businesses, including:

(1) embarking on a new project of work with the Green Hydrogen Standard 2.0 at COP28 to ensure standards are set in a way that helps emerging economies thrive while also partnering with leading African universities to develop the skills required to enable the hydrogen industry in Africa
(2) developing an ethical and secure supply chain for critical clean technologies with practical initiatives such as transforming an existing, surplus geothermal energy source to generate green hydrogen in Kenya; and
(3) building an estimated $20 billion in renewable energy projects across the world, including in Africa, Australia, Europe and Latin America. Projects are expected to be financed in the rapidly developing green, structured finance global capital markets.

This is in addition to recent pledges and initiatives from Forum participants showcasing climate leadership:

Boston Consulting Group (BCG) previously announced that it expects to invest $2 billion in the next decade to reach their “Net Zero by 2030” commitment and to provide consulting support to society and organizations in addressing critical climate and sustainability efforts across a broad range of partnerships including COPs, the First Mover Coalition, and many others. They supported the initial set up of the Energy Transition Accelerator (ETA) design process and are excited about its potential. While important design issues remain to ensure high-quality credits and clear recognition of companies’ contributions, they are optimistic these issues can be successfully addressed, and in that case, expect to become a founding partner in the ETA community and encourage others to participate as well.

BlackRock: At COP26, BlackRock announced the final close of the Climate Finance Partnership (CFP), a blended finance investment vehicle that seeks to accelerate the flow of capital into climate-related investments in emerging markets. So far in 2023, CFP has committed approximately $190 million into renewables investments in Kenya and the Philippines, and has approved the deployment of a further c. $90 million into 2 additional investments, both in emerging economies in South East Asia, which will be announced (subject to certain conditions) in due course. Following these capital commitments, CFP would have around $390 million of capital for deployment into future emerging markets climate technology investment opportunities.

Bloomberg Philanthropies, in partnership with the Glasgow Financial Alliance for Net Zero, will build on its long-term commitment to move the world beyond coal and keep the 1.5°C global warming target within reach. To address the specific challenges involved in accelerating a successful managed phaseout of coal power in emerging economies, Bloomberg Philanthropies will expand its support for Just Energy Transition Partnerships in countries including Indonesia and Vietnam, with a focus on ways for public and private finance to work together to unlock capital to enable economies to reduce coal and ramp up the development and deployment of clean energy. In addition, Bloomberg Philanthropies will help develop global and local standards and policy frameworks to ensure that the managed phaseout of coal is done in an effective and orderly manner. This includes developing and delivering concrete integrity guidelines by COP28  for the use of carbon credits in incentivizing earlier coal retirement, avoiding the planned release of millions of tons of carbon dioxide into the atmosphere.

Community Jameel, a global organisation focused on helping communities thrive, has announced that they are increasing their funding for climate initiatives ahead of COP28. The funding will support projects like the Jameel Observatory-CREWSnet, a platform that predicts climate change to help communities adapt. Community Jameel is committed to addressing climate change, particularly its impact on vulnerable communities. They will continue their efforts to combat food insecurity through agricultural innovation and climate-smart agriculture.

Ninety One, a global investment manager, has announced initial funding for its new strategy called Emerging Market Transition Debt (EMTD). This strategy aims to provide commercial financing to support real-world efforts in reducing carbon emissions where it is most needed. The firm is now raising more funds with the goal of turning EMTD into a large-scale initiative worth billions of dollars. By actively participating in the Sustainable Markets Initiative, Ninety One is contributing to the creation of a new investment category focused on transition debt. They provide credit to high-emitting companies that have a strong potential for transitioning towards sustainability. The aim is to inspire other companies to offer similar opportunities and promote transition financing on a larger scale.

Three Cairns Group and Sea Change Foundation International announced the formation of Allied Climate Partners, Inc. (ACP), a philanthropic investment organization with a mission to increase the number of bankable, climate-related projects and businesses in emerging markets and developing economies to create significant environmental, economic, and social impact. ACP will select regional investment managers in Southeast Asia, Africa, the Caribbean and Central America, and India and support them with capital and the expertise necessary to increase the number of climate-related projects and asset-oriented businesses by investing at the early-stages of the development process. The initiative will be formally launched at COP28.

The World Bank’s Private Sector Investment Lab have announced 15 Chief Executive Officers and Chairs who will make up the Lab.  The founding members comprise a core group charged with developing solutions to address the barriers to private sector investment in emerging markets and developing countries – including leaders from AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, Ninety One, PIMCO, Ping An, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy for All, Tata, Temasek, and Three Cairns Group. The Lab will identify new approaches, building on the World Bank’s current work, to address existing barriers and develop solutions , with the ultimate goal of crowding in greater levels of private finance in emerging markets. The Lab will initially focus on scaling transition finance in renewable energy and energy infrastructure.

Full list of attendees at the Climate Finance Mobilisation Forum

• Alison Rose, Natwest
• Andrew Forrest, Fortescue Group
• Andy Kuper, Leapfrog
• Bill Winters, Standard Chartered
• Brian Moynihan, Bank of America
• Colm Holmes, Allianz
• Fady Jameel, Community Jameel
• Hendrik du Toit, Ninety One
• Isabella da Costa Mendes and Victoria Miles, ImpactA
• Jennifer Jordan-Saifi, The Sustainable Markets Initiative
• John Neal, Lloyd’s
• Larry Fink, BlackRock
• Lukas Walton, Builders Vision
• Mark Carney, Private Sector Investment Lab; Brookfield Asset Management; The Glasgow Financial Alliance for Net Zero
• Mark Gallogly, Founder Three Cairns Group
• Mary Schapiro, The Glasgow Financial Alliance for Net Zero
• Nat Simons, Sea Change Foundation
• Noel Quinn, HSBC
• Rich Lesser, Boston Consulting Group
• Shriti Vadera, Prudential Plc; Private Sector Investment Lab
• Sultan Ahmed Al Jaber, COP President Designate
• Tony Elumelu, The Tony Elumelu Foundation

The press release issued by the Department for Energy Security and Net Zero on 10 July 2023.

Energy Security Secretary Grant Shapps and US Special Presidential Envoy on Climate John Kerry convene Climate Finance Mobilisation Forum in Windsor.

Top financiers and philanthropists will come together in Windsor today (Monday 10 July) for a Climate Finance Mobilisation Forum to recognise and encourage efforts that increase support for emerging and developing economies to accelerate a net zero, resilient transition.

Organisations are encouraged to bring examples of recent and new activities that represent significant investments to drive climate action and harness the environmental, economic, security, and social benefits it brings – building momentum on implementation efforts that contribute to achieving the goals of the Paris Agreement.

Energy Security and Net Zero Secretary Grant Shapps and US Special Presidential Envoy for Climate John Kerry will host major financial players and philanthropists for the special event, convened as part of President Biden’s visit to the UK, before participants travel to Windsor Castle to speak to His Majesty The King and the President about the conclusions of the discussion.

It is estimated that by 2030 annual clean energy investment in these countries needs to expand by more than seven times, to above $1 trillion, in order to put the world on track to reach net-zero emissions by 2050. And that is for clean energy alone; additional investments are needed to reduce non-CO2 emissions, halt deforestation and reverse forest loss, and adapt and build resilience to climate change.

Energy Security Secretary Grant Shapps said:

Finance is the lifeblood of growing economies. Billions has been spent so far to accelerate the green transition already underway, and the UK is delivering its £11.6 billion of International Climate Finance to support countries around the world – but if we want to deliver real change, we must go further and do it together. The scale of this transition requires trillions in private investment in addition to the public funds we are spending.

Today is about uniting with our US allies and key enablers, using this world-leading expertise for the benefit of not just our own economies but those that will be most affected by climate change impacts – updating The King and President on what we’re doing to set us all on a path to net zero and greater climate resilience by unlocking private investment.

Building on the US-UK Atlantic Declaration, today isn’t just about cutting emissions, it’s also supporting countries to achieve a secure, cheaper and home-grown energy system – to grow their economy and create jobs.

US Special Presidential Envoy for Climate John Kerry said:

The climate crisis is here. It’s caused by the unabated burning of fossil fuels, and it’s going to get worse without action.  No government can solve this crisis by itself.  We need to work together with the private sector and philanthropy to speed up the net zero, resilient transition.

One important outcome of today’s event will be the ideas and potential collaborations that are seeded and the tangible action and ways private finance and philanthropies can collaborate to accelerate action on the road to COP28.

Since day one, President Biden has taken decisive action to mobilize an unprecedented effort to tackle the climate crisis, and that work continues today in partnership with the UK to raise ambition through concerted action between the public, private, and philanthropic sectors.

Currently emerging markets and developing economies account for two-thirds of global greenhouse gas emissions, and many are highly vulnerable to climate hazards. These economies are crucial for tackling climate change and halting nature’s decline, as well as being key partners for the UK and US in generating shared prosperity from the global transition.

The UK and US can capture a huge economic opportunity by supporting the global transition, whilst building closer relationships with high growth emerging markets and developing economies as they seek to meet their own financing needs.

Following Putin’s barbaric attack on Ukraine, governments are redoubling efforts not only to keep 1.5C alive, but boost cleaner, more secure and cheaper energy that moves away from costly fossil fuels.

The press release issued by the Department for Energy Security and Net Zero on 13 June 2023.

London Tech Week will see Energy Security Secretary Grant Shapps announce £4.3 million government funding to develop cutting-edge technology.

The press release issued by the Department for Energy Security and Net Zero on 8 June 2023.

£40 billion has been paid out to protect UK families and businesses from energy costs over the colder months.

The government spent nearly £40 billion protecting households and businesses from spiralling energy bills over the colder months, new figures today show.

Putin’s illegal invasion of Ukraine led to unprecedented turmoil in global energy markets and made a huge impact on the energy bills of households around the world. In the UK, without government intervention households would have seen bills peak at almost £4,300 per year.

In response the government covered around half a typical household bill over the winter – and today, the sheer scale of that financial support has been revealed for the first time. £39.3 billion was spent between October 2022 and March 2023, the most ever provided to subsidise household bills in UK history. This was in part funded through taxing energy producers’ excess profits – with the government’s windfall tax on producers expected to raise almost £26 billion by March 2028.

And with moves to shore up the country’s energy security, wholesale costs have now come down two thirds from their peak in the first quarter of the year. The UK has seen a full year without using Russian gas, while accelerating the move towards renewables and alternative sources of supply such as liquefied natural gas imports.

Energy Security Secretary Grant Shapps said:

Putin’s illegal invasion of Ukraine and his reckless attempts to hold the West to ransom sent energy prices spiralling around the world.

We acted swiftly and decisively to protect families and businesses from the full impact of that shock – covering around half a typical energy bill over winter. This helped safeguard jobs and livelihoods, and enabled many families to heat their homes.

And we will not stop leading the world in standing up to Putin, helping countries around the world to move away from Russian fossil fuels – just as we have done having not used any Russian gas for the past 12 months.

Chancellor of the Exchequer Jeremy Hunt said:

Putin’s weaponisation of global gas prices meant our energy bills soared, which is why we stepped in with immediate relief and cut the typical household energy bill by around half last winter, driving down inflation and relieving pressure on families.

Improvements in the wholesale market mean energy regulator, Ofgem, has been able to reduce their price cap from £3,280 now to £2,074 in July. As a result, the average household bill is expected to fall £426 lower than current charges under the Energy Price Guarantee, which will also help further lower inflation overall. The government is committed to halving inflation by the end of the year.

Today’s figures demonstrate the historic scale and nature of the schemes put in place to support households. The figures involved mean on average around £2,500 was shelled out every second since October to keep energy costs down, as Ofgem’s cap rose to almost £4,300 at the peak of the energy crisis – saving the average home roughly £1,500 by June.

The figures show that from October up to the end of March, almost £21 billion went towards the Energy Price Guarantee. An expected £12 billion has been paid out under the Energy Bills Support Scheme, which offered homes £400 payments towards their bills over winter.

Meanwhile, businesses and other organisations benefitted from a £5.5 billion boost under the Energy Bill Relief Scheme, the government’s primary non-domestic support scheme over the winter. A further £933 million was spent on other government energy support schemes, including alternative schemes providing support for households and businesses off-grid and those using alternative fuels.

The press release issued by the Department for Energy Security and Net Zero on 31 May 2023.

Households on prepayment meters told to claim Energy Bills Support vouchers by 30 June, in final push to help those yet to benefit from £400 off their bills.

Electricity suppliers, charities and consumer groups are today joining forces with government for Claim Your Energy Voucher Day – a call to arms to make sure households with traditional prepayment meters avoid missing out on £400 worth of help with their bills.

With £130 million of government support left to claim, well recognised names backing the day include Which?, National Energy Action and Fuel Bank Foundation, as the sector comes together in a final push to get remaining households to use their energy bill vouchers worth up to £400.

Recent figures show the number of vouchers cashed in has reached an all-time high, with over 83% of vouchers now used. However, with a month left of the scheme, the government is renewing its efforts to see as many vouchers redeemed as possible.

Over the last week government adverts have been landing in hundreds of newspapers, bus stops, Post Offices, train station billboards and elsewhere across the country to let those on traditional prepayment meters know how to claim the support.

Prepayment meter users, who are often in low-income households, have so far claimed nearly £650 million under the government’s Energy Bills Support Scheme. This means vital help is getting out to those that need it most, which direct debit customers received automatically over the winter – bringing the total delivered through the scheme to £11.5 billion.

Minister for Energy Consumers and Affordability Amanda Solloway said:

We’ve made huge strides in getting nearly £650 million from our Energy Bills Support Scheme out to prepayment meter customers, often in the homes that need it most.

Today we are redoubling our efforts to reach anyone who still hasn’t claimed this help, and it’s fantastic to see so many join our final push to spread the word.

Tell friends and family or anyone on a traditional prepayment meter to use their vouchers for up to £400 off bills before 30 June – there is still £130 million out there to claim.

Ministers are leading a rallying call for customers to head to a Post Office or PayPoint with their Energy Bills Support vouchers and ID before 30 June, so everyone can get the help available.

Charities and consumer groups have also voiced their support to help spread the word, as part of Claim Your Energy Voucher Day:

Emily Seymour, Which? Energy Editor, said:

It’s positive that over 80% of Energy Bills Support Scheme vouchers for traditional prepayment meter customers – who are often on lower incomes – have now been redeemed.

However, there are still lots of households that will be missing out on much-needed financial support. We’d strongly encourage anyone who hasn’t yet redeemed their vouchers to do so before 30 June, so they don’t miss out on extra help unnecessarily.

It’s also important to remember that any lost, missing or expired vouchers can be reissued, as long as they are redeemed by 30 June 2023. If you are on a traditional prepayment meter and haven’t received your vouchers, are unsure of how to redeem them, or need a voucher to be reissued, you should get in touch with your supplier for more information.

Adam Scorer, chief executive, National Energy Action (NEA), says:

As energy bills have spiralled, National Energy Action knows how crucial the government’s Energy Bills Support Scheme has been. The £400, paid in 6 instalments of £66 or £67 has helped many people this winter.

But prepayment customers – often some of the most vulnerable – were paid in vouchers and millions remains unclaimed. Some customers didn’t receive them, others struggled to redeem them.

We urge anyone who hasn’t yet claimed their vouchers to do so before the 30 June deadline and if you have friends and family that may not have used their vouchers, spread the word. It may be the support that keeps their lights on, their oven cooking, their hot showers running, through the summer. It’s vital money at a time when it’s never been needed more.

Matthew Cole, head of Fuel Bank Foundation, the national charity that provides emergency fuel vouchers to PPM customers, said:

We’re really concerned that hundreds of thousands of people with traditional prepayment meters are going to miss out on this vital financial support. There is a lot of misinformation circulating on who is eligible to claim the EBSS vouchers and how to redeem them, which is why campaigns such as this are really important.

As part of our own campaigning on this issue, we found that other reasons why vouchers haven’t been redeemed included not receiving them, due to incorrect details or the person having moved house and their records haven’t been updated, or they lost or deleted the voucher.

However, whatever the reason, we want to reassure people that if they haven’t claimed their EBSS voucher, there is still time to do so.

Today marks a final push in the government’s multi-billion-pound intervention, that protected families and homes over the winter, by covering nearly half a typical household’s energy bill. It comes after news last week that energy costs will fall by £430 per year on average from July, under the Energy Price Cap – marking a major milestone in the government’s efforts to halve inflation.

Latest figures, published earlier this month, show that for the sixth month in a row London had the lowest redemption rate, with more than 650,000 vouchers still unused at the end of March. Around 25% of vouchers in both Scotland and the South East of England are also yet to be claimed.

In a further drive to boost numbers, posters and reminders are popping up throughout the country, with details of what people need to do to claim up to 6 vouchers, each worth between £66 and £67, and get their energy bill discounts before the 30 June deadline.

Customers are urged to contact their electricity supplier as soon as possible over the next few weeks, if they have any issues with their vouchers.

Households using prepayment meters who use alternative fuels such as LPG, heating oil or biomass as the main way they heat their homes also have until 30 June to use their vouchers worth up to £200 in energy bills support. Customers will have received these vouchers in the post from their supplier and should contact them if they have any questions.

Today’s message to customers comes after months of campaigning from the government, consumer groups and energy suppliers to help prepayment meter households trade in their energy bills support vouchers, with some going door-to-door to spread the word. Londoners benefited from government pop-up events, in partnership with the Post Office and Citizen’s Advice – while adverts also ran across community radios, social media, national magazines and billboard vans roaming towns and cities across the country.

The press release issued by the Department for Energy Security and Net Zero on 26 May 2023.

New Solar Taskforce meets to explore how to drive more rooftop solar installation.

Schools, warehouses and car parks could be at the forefront of a revolution in affordable solar power, under plans discussed at the first meeting of the government’s new Solar Taskforce.

The government has a clear target to increase solar capacity by nearly fivefold to 70GW by 2035 as part of wider plans to power up Britain with cleaner, cheaper and more secure energy sources.

Even when this is met, the UK would be using only a very small proportion of its land mass for solar panels.

Already over a million UK homes have solar panels fitted to their roofs, providing reliable energy for homes across the UK while significantly reducing consumer bills and creating thousands of high skilled jobs across the country as part of growing our economy.  However, the Taskforce, led by Energy Minister Graham Stuart and Solar Energy UK chief executive Chris Hewett highlighted the untapped potential of commercial buildings, schools, warehouses and car parks, as well as the possibility of floating solar.

The government pledged to establish a Taskforce to drive the further growth of solar power as part of Powering Up Britain, accepting the recommendation made by Chris Skidmore in his Independent Review of Net Zero identifying how the UK could meet its net zero commitments in an affordable and efficient manner.

Minister for Energy Security and Net Zero Graham Stuart said:

Households across the UK are already doing their bit to provide cleaner, cheaper and more secure energy sources with the solar panels on their roofs – but with acres of rooftop space on car parks and supermarkets in every community, we can be doing even more.

This new dedicated Solar Taskforce will have a laser-like focus on cutting the costs and breaking down the barriers to harnessing the power of the sun in every way we can, all while using a small fraction of this country’s land.

Doing so will make a significant contribution to boosting our energy security, cutting people’s bills and providing long-term jobs.

Chris Hewett, chief executive of Solar Energy UK and co-chair of the Taskforce, said:

Installing rooftop solar power, whether at residential or commercial scale, is one of the best investments available, offering dramatic savings on energy bills and the opportunity to be paid for sending excess power to the grid. The benefits can also be greatly enhanced by adding a battery storage system.

Solar is the most popular form of power generation amongst the British public and consumer demand has never been higher, though the rate of rooftop installation must double to help hit 70GW by 2035. The number of solar farms will also have to increase significantly. I am delighted we now have industry leaders working directly with the government to resolve the stumbling blocks and maximise the benefits that solar energy offers to the nation.

Part of the discussion at its first meeting was how to drive more rooftop installation, such as enabling cost reductions for households and businesses looking to install solar panels, so that even more can reap the benefits of solar power such as reducing their bills.

This would come on top of solar panels on the ground – with the Taskforce united that the solar and farming sectors can support each other in meeting energy security goals and maintaining our country’s food security.

The Taskforce also discussed plans to:

• publish a solar roadmap in 2024 to drive forward the actions needed to deliver the UK’s ambition to increase solar capacity by nearly fivefold by 2035
• upskill and expand the solar workforce to meet increasing levels of demand, while creating well-paid long-term employment opportunities for Britain
• identify opportunities to secure resilient supply chains and innovation within the global market, helping to generate opportunities for UK businesses to export their expertise around the world

The Taskforce will be supporting the UK’s solar industry at a time when it is going from strength to strength:

• over 99% of the UK’s solar capacity – both on the ground and on rooftops – has been installed since May 2010 – equivalent to powering nearly 4 million homes
• in 2020, the solar industry supported 11,500 jobs across the country – with that figure now expected to be even higher
• in March this year, over 19,000 smaller-scale rooftop installations were made, at a rate of more than 500 a day.  If this continues, there will be 230,000 installations in 2023 – beating the current record set in 2011

Ben Fawcett, Head of Solar at EDF Renewables UK and member of the Solar Taskforce, said:

If we are to achieve our net zero ambitions, we need to drive forward the deployment of all types of solar, from rooftops to small and large utility-scale solar farms. By bringing the government and industry together, the Solar Taskforce is a great step in the right direction as we work hard to unlock the potential of solar in the UK.

Lawrence Slade, Chief Executive, Energy Networks Association, which represents the UK’s energy network operators, said:

I’m looking forward to working with Minister Stuart and his department, as well as partners across the industry on tackling the challenges we face on the road to net zero. We know accelerating and improving grid connections is one such challenge and linking the work of the taskforce up with our industry action plan is going to be crucial.

Chief Executive of renewable energy standards body MCS Ian Rippin said:

The growth we’ve seen highlights the appetite for solar PV and does give some insight into the growing reliance on home-grown energy in the UK.  More people are turning to renewable solutions to generate their own power at home and it’s great to see increasing levels of confidence in solar.

The press release issued by the Department for Energy Security and Net Zero on 19 May 2023.

£4.1 million awarded to green finance projects to help homeowners make their homes more energy efficient.

Homeowners who make their properties more energy efficient could see their mortgage rate cut under a new government-backed pilot.

Perenna Bank will receive more than £193,000 in government funding to help develop their long-term, fixed-rate mortgage that will incentivise customers to make their homes more energy efficient by offering to reduce their mortgage rate.

Another trial will see buy-to-let landlords add the cost of making properties more energy efficient onto their mortgage – enabling them to borrow the money for the improvements and include it in their monthly repayments.

Ashman Bank Limited will be awarded £200,000 to design and develop this, which will assess a property’s energy efficiency, provide options on how it can be improved and incorporate the cost of carrying out the work on to the duration of the mortgage.

The projects are among 26 green finance products being developed and tested, backed by £4.1 million of government funding.

They are aimed at encouraging and helping homeowners make their properties more energy efficient, with measures such as loft insulation and double glazing. This in turn will help them save more than £460 a year on their energy bills – one of many ways the government is helping ease the cost of living for families across the country.

Lord Callanan, Minister for Energy Efficiency and Green Finance, said:

The government has put in place long-term commitments to ensure homes across the country have greater energy efficiency to reduce bills, drive down energy use and lower emissions.

We are supporting these organisations to develop fresh and innovative ways of helping more people get better access to energy efficiency measures, such as loft insulation, double glazing and heat pumps.

Other projects successful in bidding for funding include Aviva Equity Release UK Limited, who will receive £87,612 to design a service that allows homeowners to access equity in their property through a specialist lifetime mortgage, freeing up cash to improve the energy efficiency of their homes.

Clydesdale Bank PLC, trading as Virgin Money, will receive £171,000 for a product that will offer bespoke energy efficiency products for customers’ properties, after carrying out a survey to outline the improvements needed.

Scott Brown, Head of Equity Release Pricing at Aviva, another winning project, said:

Aviva is delighted to have secured funding from the government to explore building a green mortgage solution for later life lending.

Aviva and the Department for Energy Security and Net Zero will co-fund our customer research to explore the development, which will aim to enable later life households to make home energy efficiency improvements, making their homes more comfortable to live in, reducing energy bills and helping drive a reduction in the carbon footprint of the UK’s housing stock.

Given the value in the research being produced, Aviva commit to sharing the output when finalised with the wider industry to support industry level change.

Craig Calder, head of secured lending at Virgin Money, one of the winning projects, said:

To be part of the innovative Green Home Finance Accelerator project is important for Virgin Money as we look to reinforce our aspiration to halve our financed emissions by 2030 and deliver net zero by 2050.

Working with industry experts Sero and Rightmove is an opportunity to research, test and learn what consumers want before we take a proposition to market – enabling us to provide a great product for customers while at the same time making a positive impact on the environment.

Following a 6-month Discovery Phase period, all 26 Green Home Finance Accelerator projects will be able to apply for larger grant awards, between £200,000 and £2 million to enable them to pilot their green finance products and services.

Investments announced today form part of the £20 million Green Home Finance Accelerator, which is funded through the £1 billion Net Zero Innovation Portfolio. Funding will help drive wider government efforts to ensure as many homes as possible reach an Energy Performance Certificate (EPC) band C by 2035, with higher ratings likely to result in lower fuel bills.

Based on a standard occupancy and heating regime, owner-occupiers improving their homes to EPC C could save over £460 a year on their energy bills.

Winners of the awards

• Aceleron Limited will receive £199,697 to trial an Energy Storage as a Service subscription model for the provision and maintenance of lithium-ion batteries.
• Arctica Partners Limited will receive £169,210 to investigate a carbon credits financial product which will support home retrofit.
• Arniston Ltd (trading as Snugg) will receive £170,870 to develop a prototype version of the Green Home Hub to guide customers on the journey from initial enquiry, to developing a retrofit plan, funding the work, engaging with installers and monitoring the results.
• Ashman Bank Limited will receive £200,000 to design and develop a new variant of buy-to-let to be known as Impact Buy to Let (IBTL), which will be underpinned by an assessment of the retrofit works needed to enhance the energy efficiency of a property.
• Aviva Equity Release UK Limited will receive £87,612 to design an equity release proposition, targeted as a cost-effective way of funding home improvements to improve the energy efficiency and the EPC rating of customers’ homes.
• Bankers without Boundaries will receive £99,241 to explore the design of a service which will display homes on a geographic heatmap, highlighting where energy saving returns from retrofits are economically sufficient to support individual consumer investment or how whole areas could be aggregated for a blended return.
• Chameleon Technology (UK) Limited will receive £155,692 to develop a complete solution which enables homeowners to accurately assess their home energy efficiency and offers a tailored loan product to meet their retrofit needs.
• City Science Corporation Limited will receive £199,916 to explore ways to provide buy-to-let landlords with a comprehensive solution for upgrading their properties. They have also secured £199,330 to provide, through research and analysis, a clear understanding of the legal and commercial challenges facing the Heat as a Service (HaaS) industry and offer practical solutions to enable the delivery of HaaS in the UK.
• Clydesdale Bank PLC (trading as Virgin Money) will receive £171,000 to remove the upfront cost barrier to installing retrofit measures facing the ‘able to pay’ market, as well as providing robust technical guidance on appropriate energy efficiency improvement measures to consumers.
• Cybermoor Services Ltd will receive £56,344 to develop an integrated solution targeting the barriers impacting the uptake of low-carbon heating within the harder-to-reach rural domestic market.
• E.ON Energy Solutions Ltd will receive £196,921 to develop and pilot innovative green finance products that enable home energy efficiency, low-carbon heating and potentially micro-generation improvements.
• ELPS Energy Ltd will receive £199,597 to develop an integrated one-stop-shop solution for residential retrofit financing.
• Energy Saving Trust Enterprises Limited will receive £193,674 to explore a Pathways to Green Finance service aimed at the private rented sector (PRS) looking to retrofit homes.
• Escrow-Tech Limited will receive £159,040 to create an innovative approach to green home financing as it utilises the potential (or projected) offset carbon from retrofitting activities in adjusting loan rate settings for homeowners thus reducing the cost of home retrofitting.
• Heat Scheme Limited will receive £116,238 to develop a UK-wide green home finance loan product, for use in bridging the gap between the upfront cost of a gas boiler replacement and the net cost of a heat pump installation after applying a £5,000 Boiler Upgrade Scheme grant.
• Kamma Limited will receive £200,000 to drive energy efficiency retrofit upgrades in UK properties by developing an online, end-to-end retrofit marketplace connecting homeowners, green finance providers and retrofit installers.
• Landslide Energy Ltd will receive £126,110 to shorten retrofit payback periods for homeowners who are looking to remortgage and living in properties with an Energy Performance Certificate (EPC) rating of D or lower.
• Leeds City Council will receive £194,780 to develop a one-stop-shop (OSS) delivery vehicle to create and test green finance retrofit offers.
• Parity Projects Limited will receive £165,589 to investigate the potential for a sustainable retrofit one-stop-shop that meets homeowner needs and overcomes barriers in the current retrofit journey.
• People Powered Retrofit Limited will receive £120,911 to develop a mutual, local and trusted one-stop-shop approach to retrofit, combining quality assurance, financing and verification, and setting out replication plans to take advantage of the extensive network of UK Credit Unions.
• Perenna Bank PLC will receive £193,350 to bring to market a long-term, fixed-rate green mortgage that incentivises homeowners to retrofit by offering to reduce their mortgage rate.
• Phoenix Group Management Services Limited will receive £102,249 to explore a solution to enable older, less-affluent, homeowners make decarbonising home improvements through using lifetime mortgages.
• Scroll Finance Limited will receive £136,572 to develop a point-of-sale financing technology solution to be deployed for retrofit decarbonisation projects. They have also been awarded £158,608 to scope, design and test an end-to-end retrofit journey embedded with an innovative and flexible financial product in three pilot areas.
• Sunsave Group Ltd will receive £196,395 to research the roadblocks that remain for subscription solar PV and to develop a proposition that can be brought to market and rapidly scaled.

The press release issued by the Department for Energy Security and Net Zero on 17 May 2023.

Organisations using licence-exempt energy to benefit from up to thousands of pounds in support.

Steelmakers, recycling plants and manufacturers are among the hundreds of businesses that will benefit from a new scheme launched by the government today to help with the cost of their energy bills.

Most businesses across the country are receiving money off their energy costs automatically, thanks to an unprecedented support package from the government totalling around £7 billion so far – amounting to over £35 million a day.

However, a selection of companies – including some large chemical plants and those providing critical national infrastructure – require a bespoke support scheme to subsidise energy from a licence-exempt supplier.

Some suppliers can benefit from licence exemptions for various reasons, for example if they operate on a small scale with limited impact on the electricity system. Companies may use a licence-exempt supplier because they are based on a site with a private network or operate directly within the wholesale energy market.

From today these companies – known as Non-Standard Customers – can now apply for help with their bills from April 2023 to March 2024, similar to the support others will receive under the government’s Energy Bills Discount Scheme (EBDS).

For some, these discounts could amount to thousands of pounds off their energy bills and provide vital help with their cashflow, following the impact of Putin’s illegal war in Ukraine on global energy costs. The move comes as the government continues to deliver on its promise to protect jobs, grow the economy and halve inflation.

Minister for Energy Consumers and Affordability Amanda Solloway said:

This country has a proud industrial history and one that we must protect from the volatile energy market, following Putin’s illegal war in Ukraine.

Energy prices are falling, but we must continue to do all we can to help our vital UK industries – from recycling to manufacturing and steel.

That’s why we’re going above and beyond to make sure all businesses can access our support, even if they get their energy via non-standard routes – and I urge these customers to check their eligibility today.

Director of Policy at the Association for Renewable Energy & Clean Technology (REA) Frank Gordon, said:

The REA welcomes the news that more companies are receiving support through both the EBRS and EBDS non-standard cases scheme. It is encouraging to see more businesses than previously, now be supported under EBDS in the future. In the longer term, businesses can make considerable bill savings by moving to renewable energy supplies, such as by generating their own renewable energy on-site.

Some of these businesses and organisations that use a licence-exempt supplier can also from today apply for backdated support under the Non-Standard Cases Energy Bill Relief Scheme.

Those that get their licence-exempt supply from the public grid were given access to this support from October 2022 to March 2023. The scheme has now been extended to cover the same cohort as the Non-Standard Cases Energy Bills Discount Scheme. This means companies that get a licence-exempt supply from waste, anaerobic digestion and biomass plants will now be able to retrospectively apply for energy discounts to match support others received this winter.

The government is urging companies to check their eligibility on GOV.UK, as both suppliers of licence-exempt energy and their customers can apply for the new schemes via the government website from today. Payments will be made either to the provider to pass on or directly to the customer depending on who made the application.

The new rate of support provided through the Energy Bills Discount Scheme, which launched on 1 April, reflects wholesale energy prices falling to their lowest level since before Russia’s illegal invasion of Ukraine. Higher levels of support are offered to eligible energy and trade intensive industries and heat network operators – with some businesses expected to save 20% of predicted wholesale energy costs.

The press release issued by the Department for Energy Security and Net Zero on 12 May 2023.

The UK’s first system drawing heat from deep underground to provide low-cost heating for nearly 4,000 homes is one of 7 innovative projects backed by government funding.

The press release issued by the Department for Energy Security and Net Zero on 11 May 2023.

Government to broaden benefits packages for areas that agree to have local onshore wind farms.

New and improved reward schemes, including the potential of lower bills, could be offered by developers to communities in England who want to support onshore wind farms in their area, under proposals announced by the government today.

The government recognises the range of views on onshore wind. Decisions on onshore wind are best made by local representatives who know their areas best and underpinned by democratic accountability. To deliver this, and our commitments in the British Energy Security Strategy, we are consulting on a more localist approach that provides local authorities more flexibility to respond to the views of their local communities.

Today’s proposals build on benefits already offered by developers to areas that agree to have onshore wind farms locally. These include holding a stake in a turbine, which gives them the potential to receive profits from the site’s operation, or funding for new community facilities, such as charging points for electric cars or new sports and recreation facilities.

As part of a consultation launched today, the government is proposing that emerging and innovative types of community benefits, such as energy bill discounts, are added to the range of reward schemes that onshore developers currently offer host communities. This would be agreed between developers and communities on a case-by-case basis.

It is also proposing best practice principles of engagement, currently published by the government, are embedded into planning guidance for local authorities and developers to ensure the views of the community are heard and addressed.

Read and respond to the consultation on Developing local partnerships for onshore wind in England.

These changes will further place local people at the heart of the government’s plan Powering Up Britain and deliver cheaper, cleaner and more secure homegrown energy.

Minister of State for Energy Security and Net Zero Graham Stuart said:

Onshore wind is a vital part of our plans to deliver cheaper, cleaner, and more secure homegrown energy.

It is right that new developments have the support of host communities, and that local people benefit directly from it, such as through either a discount on their energy bills or other significant community benefits.

Our proposals will ensure developers and local residents can work together more efficiently to maximise community benefits for supportive communities while delivering the clean and secure energy the country needs.

Community benefits can have a lasting positive impact on local residents. For example, when building its Tirgwynt Wind farm in Wales, developer Belltown Power engaged with the local community and identified the need to support educational facilities in the area. The company provided £2.5 million – with match funding from the local council – to build a new school building, saving it from closure. The wind farm now hosts an annual visit for local school children.

The proposals set out today include:

• formally embedding best practice principles of engagement between developers and communities, as outlined in existing community engagement guidance published by the government, into official planning guidance for local authorities and developers. This will strengthen the way in which developers are transparent and receptive when they engage with communities through digital and online methods
• working with RenewableUK to update their existing Community Benefits Protocol for England to account for emerging and innovative types of community benefit packages, such as local energy bill discounts and other new and improved community rewards

Onshore wind will continue to be decided at a local level. Today’s proposals build on a government consultation run earlier this year on how proposals demonstrate support for the onshore wind project locally and how they address impacts identified by the local community. The government is currently analysing the responses and will respond in due course.

The government is investing billions of pounds into renewable and nuclear technologies to reduce the country’s reliance on volatile fossil fuel markets that, impacted by Vladimir Putin’s illegal war in Ukraine, led to the unprecedented increase in people’s energy bills.

The government acted swiftly and decisively, covering around half of a typical family’s energy bill this winter. But the longer-term answer is to achieve greater energy security, developing cleaner, cheaper and more secure homegrown energy sources – including both offshore and onshore wind.

With almost 15GW of it deployed in the UK, onshore wind has a key role to play in creating a more secure and cleaner energy system and to meet the UK’s ambition to have amongst the cheapest wholesale electricity prices in Europe.

With the costs of onshore wind having already fallen dramatically – currently around half what they were less than a decade ago – these proposals have the potential to play a crucial role in boosting the UK’s energy security, where there is local support. The government is clear that where communities host this vital infrastructure, they should benefit directly from it.

RenewableUK’s Head of Onshore Wind James Robottom said:

We’re pleased that the government is consulting on the wide range of benefits which onshore wind can offer to local communities in England. We have a long track record of working closely with communities to ensure that they decide what form these benefits will take, depending on the needs and priorities of local people.

Building strong relationships with local communities as early as possible is the best way to establish successful partnerships which last for decades. Alongside much-needed planning reforms, this consultation provides an opportunity to increase the amount of cheap clean power we can generate for consumers as well as strengthening our nation’s energy security.