In a move to revolutionise the retrofitting of social housing, a consortium including NatWest, Places for People, British Gas, Sero and Tallarna is piloting a new financial model to accelerate the retrofit of thousands of social homes.
The trial, which will be desktop piloted on 1,000 homes owned by Places for People, will look to quantify the environmental, financial and health benefits for residents while acting as a real-world testbed for reducing the upfront cost of net zero for landlords.
The approach will potentially bring energy savings to social housing residents and reduce the upfront cost barrier by exploring alternative financing solutions to fund the retrofits. Under exploration is a solution where capital is repaid through various sources, including selling solar power the homes generate, retrofit credits, and government grants. The success of this project can serve as a blueprint for transforming social housing at scale across the UK.
The consortium led by Pineapple Sustainable Partnerships serves as a one-stop-shop to simplify the decarbonisation journey, from assessing energy needs to funding and implementing the upgrades. This simplifies retrofitting for landlords, like Places for People, who want to maintain healthier, more comfortable, and energy-efficient homes at scale.
By simplifying the process and exploring project financing, the consortium aims to unlock a scalable solution for social housing providers. This translates into social value, where residents can enjoy lower energy bills and improved living conditions, all while contributing to a more sustainable future.
The consortium’s goal is to create a commercially viable model that can be easily adopted by the entire sector. NatWest is hosting a series of roundtables to discuss the project and its potential impact on the housing sector. Those interested in learning more and joining this groundbreaking initiative are encouraged to contact Pineapple Sustainable Partnerships.
Parliamentary Under-Secretary of State at the Department for Energy Security and Net Zero Miatta Fahnbulleh said: “To reach our clean power by 2030 target, we are going further and faster in upgrading homes across the UK as part of our Warm Homes Plan. I welcome the move from British Gas and its partners to rollout low-carbon heating to more social homes, helping to cut emissions and strengthen our energy independence.”
“It is fantastic to see this project moving forward”, said Marcos Navarro, Director & Sustainability Lead at NatWest Group, “by exploring how the implementation of energy efficient measures, alongside financing solutions can help to reduce the financial burden on landlords, as well as improving the quality & comfort of homes and communities. We aim to build on the successes with Places for People to extend this approach to benefit other social housing landlords across the UK.”
