Heat Networks have been proven around the world as a reliable, cost-effective and low carbon means of heat yet just 2% of buildings are heating this way in the UK. To provide much needed scale to this market, the Government is committed to investing £320m of support to individual projects across England and Wales. The Heat Networks Investment Project (HNIP) is open for business and ready to work with private, public and third sector project sponsors, developers and investors.
Using a mix of Government and private sector funding, Triple Point Heat Networks Investment Management will help to build a self-sustaining and transformative heat energy market which offers affordable and reliable heat.
If you have a commercially viable heat network scheme that will deliver cost-effective and low carbon energy, HNIP funding can help. A combination of grants and loans are available to projects across England and Wales to bridge the funding gap. The eligibility criteria can be viewed here and can be discussed with our Business Development Managers.
What is a Heat Network?
Heat networks (sometimes referred to as district heating) are a distribution system that takes heat from a centralised source and delivers it to a number of different buildings. These heat networks also form an important part of the Government’s plan in the future of low carbon heat, in particular in cities and high-density areas. Heat networks can decarbonise more easily compared to most other heat sources because new technologies can be added to the system with little disruption to individual householders. They provide a unique opportunity to exploit larger scale, renewable and recovered heat sources that can’t be accessed at an individual building level. Heat networks also provide system benefits such as thermal storage and reducing the energy demand of the grid at peak times. It is estimated by the Committee on Climate Change that around 18% of UK heat will need to come from heat networks by 2050 if the UK is to meet its carbon targets cost-effectively. BEIS expect that heat networks will have a strong role to play in delivering low carbon heat to homes in future.