“While yesterday’s Budget will continue to build the foundation for achieving Net Zero, it could have gone further and build upon a commitment for the environment and to reach the target by 2050.
“Several measures announced in the Budget, including the extension of the CCA (Climate Change Agreement) Scheme and plans to invest in more domestic sources of energy, will support the transition towards more renewable and secure energy sources by 2050. The extension of the Energy Price Guarantee also provides much-needed help for families struggling with the ongoing cost-of-living crisis.
“However more long-term viable solutions for reaching Net Zero would have been welcomed in the statement.
“One measure that could lower energy prices further would be to decouple electricity from gas. While the price of electricity is pegged to the cost of gas, dependent upon its demand and supply, or potential for weaponisation as with the war in Ukraine, it will remain at risk of continued price hikes.
“As many businesses plan to remove gas from their buildings over the next few years, and heat pumps are recognised as the future of both commercial and home heating in Britain, it is also vital the government supports wider adoption of the technology. To encourage this, we would have liked to have seen a commitment to roll over unspent money from the Boiler Upgrade Scheme for families to insulate their homes and install the technology.
“As part of this, the government must also incentivise the training of more installers to fit heat pumps. Without this, the current target of installing 600,000 heat pumps per year by 2028 is in jeopardy.
“While yesterday's statement indicated promising signs of a transition towards renewable alternatives, encouraging greater investment in heat pumps, alongside more installer training, will help drive wider adoption of the technology as we look towards net zero.”
Russell Dean, Mitsubishi Electric Residential Product Group Director
