Cheaper bills for 3,000 council households thanks to huge ‘retrofit’ investment
3,000 Council homes in Camden are in line for major ‘retrofit’ investment – which will make them more energy efficient and save tenants money.
In what will be run as a trial for an even larger investment in more council homes, the scheme will install energy saving and generating features into the least energy efficient council homes in Camden – a process known as retrofit.
The trial, likely to begin in September 2025, will be made up of two or more phases. Specialists will initially install solar panels and battery storage in the homes and if this is successful, the scheme will pave the way for further upgrades such as heat pumps or additional insulation.
The scheme – which is estimated to cost £20.7million up front, and valued at £68.2m over its life, would be part funded by the council and part funded by an institutional investor, who will be the energy supplier.
We will invest in our tenants’ homes and enable them to save money on their energy bills, while also tackling the climate emergency.
Retrofitting our council homes can help tackle many of the long-term problems too many of our tenants have faced, like damp and mould. Creating warm, energy efficient homes will help keep our residents warm and healthy and ensure the flats themselves are in a much better shape, for longer. Tenants will see a noticeable improvement in their energy bills. The more flats we retrofit, the more residents we’ll help to reduce their bills and the greater contribution they will make to tackling the climate emergency.
If the scheme is successful, it is estimated the first phase of this retrofit project will reduce Camden’s carbon emissions by 943 carbon tonnes a year.
Next steps for appointing a partner to work with and resident involvement
Camden’s Cabinet met on Wednesday 11 December to agree a procurement strategy for this project. The next step will be to appoint the institutional investor for the project. Camden Council and its chosen partner will then work closely with residents and tenant and resident associations to develop these plans further and explain the benefits of signing up to the scheme to tenants. Residents who live in homes connected to the pilot installations will have the option of signing up to the scheme once they have considered the level of energy they typically use and the benefits of the scheme to them.
- You can read more information in the cabinet paper – Item 9 on the Agenda.
- Camden Council will invest c. £11.2m into the project and an institutional investor will provide c. £9.5m. The Council is applying for funding from the Government through its “Social Housing Fund – Wave 3” to cover part of its costs. This application was submitted in November 2024 and successful applicants will be notified in March 2025. The Social Housing Fund funding could cover between 25% to 50% of all construction cost including design works.