Heat pumps and insulation would cut UK living costs more than new oilfields, study suggests
A study suggests that improving home insulation and installing heat pumps would reduce UK energy costs more effectively than developing new oilfields. The warm homes plan could save households £1bn annually and create 50,000 jobs, compared to about 1,100 jobs from the Rosebank oilfield. The government is considering whether to approve new oil projects despite the potential benefits of energy efficiency measures.
A study found that investing in home insulation and heat pumps would lower energy costs more than new oil projects. The warm homes plan could save £1bn a year in energy bills and create 50,000 jobs, while the Rosebank oilfield would create about 1,100 jobs.
The findings highlight a more effective and sustainable way to reduce energy costs and create jobs, which could help address the cost of living crisis and support long-term economic growth.
The study offers a practical and positive approach to tackling energy costs and job creation, showing how energy efficiency can benefit households and the economy in a meaningful way.
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