New funding boost to cut residents’ energy bills

23 March 2023

Summary: Over 2,000 homes will be made warmer, saving each resident an average of £167 each year

In a significant boost towards our commitment to make homes greener and more sustainable, MTVH has secured £9m in funding to cut residents’ energy bills and make over 2,000 homes warmer and healthier.

The financial support has been awarded to MTVH in a second wave of funding from the government’s Social Housing Decarbonisation Fund (SHDF).

Successful bids were announced this week by the Department for Energy Security and Net Zero and MTVH was awarded the entirety of the funding requested. The £9m grant will be matched by MTVH, meaning that in total £18m will be spent on ensuring that 2,081 homes across all our regions achieve an energy performance certificate (EPC) at band C or higher.

Specifically, these homes will benefit from works including internal and external wall insulation, loft insulation, the addition of triple glazed windows, modern high heat retention storage heaters and more. The work is expected to be completed over the next two and a half years. As a result, 2,125 tonnes of carbon will be saved each year.

In addition to warmer homes, residents will benefit from real cost savings on energy bills. In total, the new SHDF grant will result in savings of £348,000. On average, each resident will save £167, with some saving up to £900.

This new grant will enable us to build on the significant work already underway following a previous grant secured via the first wave of successful SHDF bids. As a result, good progress has been made in delivering energy efficiency measures to homes in South London and the East Midlands. Hundreds of residents have already benefitted from wall insulation, loft insulation, solar panelling and more. In total, this previous funding will enable work will be completed on more than 1,000 homes, saving 885 annual tonnes of carbon and over £193,000 savings in residents’ fuel bills.

The work which is being undertaken as a result of SHDF funding represents a significant boost towards reaching our milestone of 75% of directly managed homes reaching the standard of EPC C or higher by 2026.

Mark Everard, Executive Director of Property Services at MTVH, said, “This significant new investment will enable us to ensure that thousands more residents live in warmer homes and save money too.

“We are delighted to have received the entire amount that we requested from the Social Housing Decarbonisation Fund. This partnership with government means we can further cut carbon emissions. Cutting residents’ energy bills and driving down emissions are both incredibly important outcomes we are working towards. This will help us to provide better homes, while also looking after our planet.”