August 2024

How Labour's Green Policies Can Benefit Both SMEs and Homeowners

With the new government now firmly in place, the UK is set for some significant changes in energy and environmental policies. These policies offer substantial opportunities for both homeowners and SMEs to achieve growth, cost savings, and enhanced sustainability.

Expanding Renewable Energy and Opportunities for SMEs

Labour’s plans to double onshore wind capacity, triple solar power, and quadruple offshore wind capacity by 2030 are set to drive significant growth in the renewable energy sector. SMEs involved in manufacturing, installation, or maintenance of green technologies stand to benefit from this expansion. The creation of Great British Energy, a publicly owned entity focused on investing in renewable energy, underscores Labour’s commitment to building a robust domestic green energy market. This offers SMEs not only the chance to reduce their energy costs but also to tap into new business opportunities within the green energy supply chain.

Energy Efficiency Upgrades 

The Warm Homes Plan includes a £6.6 billion investment aimed at improving energy efficiency, crucial for both residential and commercial properties. SMEs can benefit from grants and low-interest loans supporting energy-efficient upgrades such as improved insulation and low-carbon heating systems. These improvements will not only lead to significant savings on energy bills but also help businesses meet increasingly stringent environmental standards. The introduction of stricter building regulations, which will require new constructions and renovations to meet higher energy efficiency standards, presents a unique opportunity for SMEs in the construction industry to gain a competitive edge.

Transition to Low-Carbon Heating

The government’s focus on low-carbon heating solutions, such as heat pumps, is vital for homeowners and businesses alike. New policies aim to make these technologies more affordable and accessible, rebalancing energy costs to favour electricity over gas. SMEs in the heating industry can leverage this shift by expanding their offerings to include low-carbon solutions, positioning themselves as leaders in the green energy transition.

Investing in a Green Workforce

The broader green agenda includes significant investment in training programmes aimed at building a skilled workforce for the low-carbon economy. Nearly 9,000 training courses have already been launched under the Home Decarbonisation Skills Training competition, focusing on skills needed for clean heating installations and energy efficiency measures. This is part of a £9.2 million initiative, with courses being either free or heavily subsidised to meet the rising demand for green skills. Additionally, a further £200 million has been earmarked for future training programmes covering a wide range of green sectors, including renewable energy and electric vehicle maintenance. These programmes are crucial for SMEs, ensuring access to trained professionals who can support the deployment and maintenance of green technologies​ (Inside track)​.

Guiding SMEs through the Green Transition

At RfM Transform we recognise the challenges SMEs face in becoming more sustainable. Our ABC framework—Audit, Benchmark, Change—is designed to guide small businesses through their carbon reduction journey. We begin by conducting a thorough Carbon Audit to measure your emissions, then provide a Benchmark to compare your performance against industry standards, and finally, help you implement targeted Changes that reduce emissions and ensure compliance with evolving regulations.

Labour’s policies are setting the stage for a greener economy, and with RfM Transform's carbon audit support, SMEs can stay ahead of these changes, reduce costs, and contribute to a sustainable future.

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