Heat pumps and insulation would cut UK living costs more than new oilfields, study suggests
Source: The Guardian ·
Warm homes plan would create 50,000 jobs, compared with about 1,100 for Rosebank oilfield, thinktank findsInsulating Britain’s homes and investing in heat pumps would do more to cut the cost of living, create jobs and boost the UK’s economy than drilling for new oil, research suggests.The government’s £15bn warm homes plan, currently under threat of cuts as ministers seek budget savings, would…
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Insulating Britain’s homes and investing in heat pumps would do more to cut the cost of living, create jobs and boost the UK’s economy than drilling for new oil, research suggests. The government’s £15bn warm homes plan, currently under threat of cuts as ministers seek budget savings, would slash £1bn a year from household energy bills across the UK, concentrated on those on low incomes, according to research by the thinktank E3G. It would also provide a £1.6bn yearly boost to the economy, and about 50,000 new jobs spread across thousands of small businesses. The Rosebank oilfield, west of Shetland, would create about 1,100 direct and indirect jobs, the analysis found. The jobs would be concentrated in the North Sea and in two companies, one of them – Equinor – an overseas investor. A decision on whether to give the green light to the Jackdaw gasfield in the North Sea was “imminent”, the energy secretary, Miatta Fahnbulleh, said on Wednesday. A decision on Rosebank would take a…