The United Kingdom intends to make 1 billion pounds ($1.2 billion) of public funding available for home insulation projects from early next year.
The government said the proposed scheme would run from early 2023 until March 2026 and would help meet a recent target to reduce energy consumption by 15 percent by 2030.
In a statement on Monday, finance minister Jeremy Hunt said; “Our new ECO+ scheme will help hundreds of thousands of people across the UK to better insulate their homes to reduce consumption, with the added benefit of saving families hundreds of pounds each year.”
Government subsidies for household energy bills are already forecast to cost 25 billion pounds this financial year and 13 billion pounds in 2023/24.
Business and energy secretary Grant Shapps also said the insulation program would help make Britain less reliant on imported energy.
Existing insulation subsidies are targeted towards people in social housing or who are on low incomes.
Quadri Adejumo covers World News, Health, Climate & Humanitarian.
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