London boroughs to retrofit 20,000 homes

London Councils has announced plans to retrofit 20,000 homes and cut energy bills through a London Net Zero Neighbourhood (NZN) programme. 

This would rapidly accelerate the delivery of energy-efficiency measures and clean heat solutions in the capital, retrofitting more than 20,000 homes over five years.

The neighbourhood-by-neighbourhood approach is designed to ensure the benefits of retrofit are felt more widely among residents in an area. It would also enable retrofit projects to be delivered more efficiently in an area and draw investment in from the private sector.

It is anticipated that by blending £224m of existing grant funding with £194m in additional government capital funding, the programme could unlock an estimated £400m in private finance.

The model would need zero upfront costs from residents, with the investment repaid primarily through energy bill savings.

Residents will benefit from warmer homes, lower bills and local areas more resilient to climate change.

It is hoped the plans could create blueprint for area-based decarbonisation that can be scaled across London and the UK.

Mayor Brenda Dacres OBE, London Councils’ Executive Member for Transport and Environment said: “The London Net Zero Neighbourhood Programme presents an exciting opportunity to accelerate our retrofit ambitions in the capital and lower Londoners’ energy bills. 

“Too many people are struggling in cold, expensive-to-heat homes, while the threat posed by the climate crisis continues to grow. Through the Net Zero Neighbourhood Programme, boroughs are showing a clear path to retrofit that is fair, affordable and delivered in partnership with our communities - with no upfront cost to residents. 

“With suitable backing from government, alongside private investment, we can ensure the current system works better for all Londoners and delivers good-quality homes which are cheaper and greener to heat.”