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Nearly 89% of issued Boiler Upgrade Scheme vouchers redeemed

Ofgem has disclosed the expenditure for the Boiler Upgrade Scheme, revealing £50,074,000 spent in the first year and £88,781,500 spent in the second

Ofgem has released data regarding the expenditure and performance of the Boiler Upgrade Scheme (BUS).

The BUS helps homes and small non-domestic buildings in England and Wales transition to greener heating systems.

The scheme provides grants of up to £7,500 to encourage replacing fossil fuel heating with more efficient, low carbon options like heat pumps and biomass boilers.

According to the regulator’s report, a total of £50,074,000 was spent in the scheme’s inaugural year, followed by an expenditure of £88,781,500 in the subsequent year.

Additionally, the report highlights that out of the 40,259 voucher applications received, 28,054 vouchers were issued, totalling £170,186,500.

Moreover, 25,568 redemption applications were received, resulting in the redemption of 25,108 vouchers, with a total value of £148,180,500.

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