Heat network developers have today publicly committed to dramatically reducing the cost of low carbon heat for consumers.
The commitment comes in a letter to the Chancellor, Rachel Reeves, from the UK’s leading heat network bodies – ADE: Heat Networks, the Heat Networks Industry Council and the UK District Energy Association. Together, they represent over 250 organisations, £9 billion of potential investment and more than 5,000 jobs.
Heat network developers have pledged to achieve a 7.5% reduction in the capital cost of building heat networks and a 20% cut in the cost of electricity consumed by them by 2030. This will help make clean heat more affordable and accelerate the UK’s transition away from fossil fuels.
Backing this commitment, new analysis reveals the monumental national payoff. If just 20% of UK heat were supplied by strategic low-carbon heat networks by 2050, electricity system customers would save £54 billion, and heat customers would save over £70 billion compared to using individual air source heat pumps. This would also unlock £100 billion of private investment, create more than 100,000 skilled jobs and stimulate UK manufacturing.
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