NatWest and British Gas to Retrofit 1,000 UK Social Homes
NatWest and British Gas have joined forces with a consortium to retrofit 1,000 social housing homes, aiming to make the process of decarbonisation easier and more affordable for landlords.
This initiative is crucial as NatWest Group reports that to meet the UK’s energy demand reduction targets, one million homes need to be insulated annually by 2030.
The cost of retrofitting homes to make them more energy-efficient is a significant barrier, with the average retrofit potentially costing up to £35,000. In response, NatWest and British Gas, alongside partners Places for People, Sero and Tallarna, have embarked on a pilot project. This project aims to create a model that simplifies and reduces the cost of retrofitting, making it more accessible for landlords across the UK.
The role of the retrofitting consortium
The consortium, led by Pineapple Sustainable Partnerships, is focused on revolutionising the way social housing is retrofitted to enhance energy efficiency. By working together, these organisations are pooling their expertise to develop innovative solutions that will make it easier for landlords to upgrade homes, ultimately reducing energy consumption and carbon emissions.
Marcos Navarro, Director and Sustainability Lead at NatWest Group, highlighted the importance of this initiative: “It is fantastic to see this project moving forward. By exploring how the implementation of energy-efficient measures, alongside financing solutions, can help to reduce the financial burden on landlords, as well as improving the quality and comfort of homes and communities. We aim to build on the successes with Places for People to extend this approach to benefit other social housing landlords across the UK.”
Retrofitting for a sustainable future
Retrofitting involves upgrading existing buildings to improve energy efficiency, thus conserving resources and reducing waste from demolition. By installing better insulation, energy-efficient windows and modern heating systems, homes can meet current sustainability standards. Additionally, integrating renewable energy sources like solar panels can further reduce carbon footprints.
Dan Rosenfield, Managing Director for Net Zero at British Gas, emphasised the company’s dedication to this cause.
"As part of our ambition to energise a greener fairer future, we are committed to helping households to decarbonise in a way that is simple and affordable," he said.
Greg Reed, CEO of Places for People, added: "Places for People recognises the critical need for fresh ideas in the social housing sector to address sustainability issues. By participating in this project, we're driving progress towards our own sustainability goals while supporting the industry in developing innovative, scalable solutions to achieve net-zero emissions."
Objectives and financial models
This pilot project also explores alternative financial models for retrofitting. These models include repaying capital through various sources such as government grants, selling solar power, and retrofit credits. Additionally, the consortium aims to better understand and address the specific energy needs of social housing.
Miatta Fahnbulleh, Parliamentary Under-Secretary of State at the Department for Energy Security and Net Zero, underscored the government’s commitment to retrofitting and energy efficiency.
She said: “To reach our clean power by 2030 target, we are going further and faster in upgrading homes across the UK as part of our Warm Homes Plan.”
This initiative represents a significant step towards decarbonising UK housing, setting the stage for broader adoption across the sector.
Retrofitting toward sustainability
The essence of retrofitting lies in modifying pre-existing structures to enhance their sustainability. This approach not only saves on resources by curtailing the need for new construction materials but also minimises demolition waste.
Adopting this strategy includes the installation of better insulation, energy-efficient windows, and heating systems — transforming homes into models of energy efficiency.
The consortium is not only retrofitting homes but also exploring innovative funding models. These include utilising revenue from solar power, tapping into government grants and leveraging retrofit credits as ways to cover costs.
Their investigation extends to understanding the specific energy requirements of social housing and crafting solutions to meet these needs comprehensively.
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