What is the Boiler Upgrade Scheme?
The boiler upgrade scheme will launch in April 2022, with a backing of £450m from the government. The aim is to provide grants of £5-6,000 to homeowners interested in the move towards low-carbon heating sources. By offering this grant, the aim is to reduce the barrier to entry for most households – this ensures that a heat pump installation should be a comparable price to a new boiler.
The scheme will run until April 2025 at which point a new initiative will most likely take its place. By looking at the figures for the boiler upgrade scheme, the grant will cover an estimated 90,000 installations with the initial funding– a little short of the 600,000 yearly heat pump installations that the government is aiming for by 2028. Due to the ongoing pledges regarding a move towards a net-neutral country, it’s likely that the funding will be increased in some form over the coming years to sustain this industry growth.