Boiler Upgrade Scheme hits new high
29th August 2024
UK: The total number of applications to the Boiler Upgrade Scheme (BUS) rose to 3,047 in July, a 13% increase on June and double the volume in July 2023.
Aside from the immediate aftermath of the grant uplift in October 2023, it has been the highest month for applications and redemptions since the scheme began in April 2022.
The BUS scheme offers a grant of £7,500 in England and Wales to incentivise and increase the deployment of low carbon heating technologies, specifically air-source and ground-source heat pumps and, in limited circumstances, biomass boilers.
Up until the end of July, there were 48,982 BUS voucher applications received since the scheme started. The majority of these, 96%, were for grants towards ASHP installations.
The number of vouchers issued in July were up to 2,832, a 28% on June, and over twice the number of vouchers issued compared to July 2023. Redemption applications were also up across all technology types to 2,071, a 20% increase on June.
The total number of grants paid through the scheme now stand at 30,354. The largest proportion (49%) replaced gas systems, followed by oil (20%) and then properties which did not previously have a heating system at all (17%).
The median cost of an ASHP and GSHP since the start of the scheme has been £13,050 and £25,000, respectively (including the grant value).
