Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
More than £60 million allocated funding for schemes to promote heat pump installations has not been spent, which has raised questions over the effectiveness of the schemes – according to reports.
The Boiler Upgrade Scheme (BUS) was brought in to help homes and small business in England and Wales switch to greener heating systems; it offered grants up to £7,500 for installing heat pumps and biomass boilers.
The scheme was budgeted at £150 million per annum from 2022 to 2025.
Statistics released by Ofgem reveal that only £88,821,500 was spent in Year two, which ran from April 2023 to March 2024, whilst £50,084,000 was spent in year one, which ran from May 2022 to March 2023.
Ofgem also revealed that 37,879 BUS voucher applications were received during year two of the scheme.
