This is why at Bioregional we are excited to win a new grant from the Energy Redress Fund. Under Ofgem's redress process, energy companies found to have breached a licence condition, or were part of an investigation or compliance case, can make voluntary payments alongside or instead of fines and compensation to address any harm caused to consumers. Energy Saving Trust has been appointed by Ofgem to distribute these funds.
An estimated 96,000 people in its hard-to-treat properties, 50% of its total stock, stand to benefit.
In the UK, homes make up 25% of total energy use and 15% of greenhouse gas.
Our grant will enable us to work with our specialist partners to develop a model for social landlords to install low-carbon, deep retrofitting measures in hard-to-treat homes at scale, in a financially viable way. We want to develop a deep retrofit solution that generates diverse revenue streams for social landlords that would enable them to roll out measures across stock portfolios.
The solutions being explored include retrofit, on-site renewable energy generation, energy storage, electrical grid services, time-of-use tariffs, providing an investment incentive, and breaking down the financial, regulatory, and operational barriers of improving social-housing stock.
Roll-out of the model will result in lower bills and better-quality housing for tenants, cutting the environmental impact of poor energy-performing social housing and providing a sustainable income stream for landlords in return for their investment.
The model will be informed by the resident experience and social return on investment as well as providing a sustainable business model for landlords to take the lead in the decarbonisation of the sector.