Heat and Building Strategy
Debate between Baroness Bloomfield of Hinton Waldrist and Lord Bourne of Aberystwyth
Baroness Bloomfield of Hinton Waldrist (Con)
The noble Lord raises a good point, but I hope that he is somewhat reassured by the 10-point plan, which has the potential to deliver £42 billion of private investment by 2030, accompanying £12 billion of government investment. This will create and support 250,000 green jobs by 2030. I think that the noble Lord will acknowledge that this is a long-term plan. It will be achieved through a combination of subsidies and investment by the Green Investment Bank.
Lord Bourne of Aberystwyth (Con) [V]
My Lords, I welcome the Government’s 10-point plan, but what is being done to install more heat pumps? At the current rate of progress, it will take over 700 years to reach the target set by the Committee on Climate Change of 19 million heat pumps for the country.
Baroness Bloomfield of Hinton Waldrist (Con)
I hope that it will not take that long, but one of the main pillars that my noble friend will have read about in the 10-point plan is the installation of at least 600,000 heat pumps per year by 2028. Given that the life of a boiler is usually up to three years, as each boiler rolls over we hope to be able to install more heat pumps at a natural rate. Hybrid heat pumps are being seen as a potential transitional economy, which we are also exploring.