£30 million announced to help manufacturers cut carbon footprint
The government has announced nearly £80 million of government investment to help cut carbon emissions from homes and energy intensive businesses.
The funding will be invested in programmes including pioneering heat network trials and an innovative new programme to bring down the cost of retrofitting residential properties with the latest energy efficiency technologies.
Funds announced today include £30 million towards the first phase of the Industrial Energy Transformation Fund (IETF), which supports energy intensive manufacturers, like car factories and steel plants, to cut their carbon footprint
£25 million for heat networks, which reduce carbon and cut heating bills for customers, including one which will harness geothermal water sitting in disused mines to heat 1,250 homes
£24 million for innovative projects to help develop energy efficient homes by installing green tech and insulation in houses
Phase 1 of the IETF, for which guidance is published today, is worth an initial £30 million in support of the manufacturing sector. The fund allows companies with high energy use to apply for grants to install technology that reduces their energy bills and cuts carbon emissions.
Worth an eventual £289 million in England, Wales and Northern Ireland up until 2024, the IETF also seeks to help bring down the costs of technologies that reduce energy consumption and emissions in heavy industrial processes.