On Wednesday, during his update on the UK’s path to Net Zero by 2050, Rishi Sunak announced that heat pump installation grants are increasing. The Boiler Upgrade Scheme provides an upfront grant towards the cost of installing air source and ground source heat pumps. BUS scheme vouchers are being raised from £5,000 to £7,500 – a 50% increase.
What does the Boiler Upgrade Scheme increase mean?
The Boiler Upgrade Scheme increase is good news for anybody looking to replace their fossil fuel heating system with a renewable heat pump. The heat pump grant is upfront and is deducted from the amount the customer is expected to pay. The increase to £7,500 makes the installation of air source heat pumps more affordable than ever. The grant money does not need to be repaid.
A typical air source heat pump installation from GreenGenUK could cost between £8,000 and £14,000. The Boiler Upgrade Scheme increase to £7,500 means a large chunk of the installation costs are subsidised and, in some cases, will cover almost all of the costs. The additional funding makes the costs of installing a heat pump very similar to those of a gas or boiler installation.
Read more about the scheme on our Boiler Upgrade Scheme page.
When is the BUS Grant being increased?
We are still awaiting absolute clarity on when the voucher increase from £5,000 to £7,500 will commence. The latest update suggests vouchers applied for on or after 23rd of October 2023 will be at the higher rate of £7,500
I already have a BUS Voucher will I be able to claim the increase?
Similar to the above, we are awaiting confirmation on how the Boiler Upgrade Scheme will increase will apply. Anybody who has redeemed a voucher cannot claim the additional amount. For example, if your system is already installed and signed off.
Homeowners already in the process of installing a heat pump or have made an application to the scheme will be wondering whether this will apply to them. GreenGen is in communication with the scheme’s regulators and will update new and existing customers with the information when we have it. It may be the case that an existing voucher can be cancelled and a new application begun at the increased value of £7,500.
Considering a heat pump installation?
There truly has never been a better time to switch to renewable heating. With the Boiler Upgrade Scheme increase and fuel prices such as oil on the rise, contact GreenGen today to discuss your heating needs.
Early in 2023, GreenGenUK received a licence approval from the Financial Conduct Authority, which will allow us to offer finance to our customers. Within the coming weeks, we hope to have a range of finance solutions to help our customers fund the remaining balance required to install a heat pump system, after the BUS Voucher has been applied. This is another step to making heat pump systems more accessible and affordable than ever before.
We offer free consultations and proposals with no obligation. We work with you to design the right system for your home, providing a detailed quotation that details the work involved. Give us a call today if you’d like to discuss things further.