New insulation funding scheme: £1bn cash boost for UK’s least efficient homes

The government has announced it will spend an extra £1bn to insulate homes that have a low energy efficiency rating.

Woman in an unfinished house
The grant can be used for energy efficiency upgrades including loft and cavity wall insulation
(Image credit: © Getty Images)

The government has unveiled a new insulation funding scheme, which could save consumers about £310 a year, as they struggle with rising energy prices.

Business and energy secretary Grant Shapps said the £1bn funding will see hundreds of thousands of homes receive insulation, as part of a strategy of working towards “becoming energy independent".

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Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.