Parity Projects & Partners awarded Green Home Finance Accelerator funding

22nd May 2023

Leading expert in the domestic housing retrofit sector, Parity Projects is delighted to announce they have successfully secured funding from the Net Zero Innovation Portfolio (NZIP) specifically under the Green Home Finance Accelerator to develop a consumer-centred national retrofit service, with free upfront advice and links to trusted and relevant services.

The Empower project will see Parity Projects partner with Santander UK, Centre for Sustainable Energy, CoreLogic U.K., Loco Home Retrofit, and Community Energy England. It will expand Parity’s existing platform, that is currently operating under the Ecofurb brand in London, to offer advice and whole house retrofit plans, competitive finance and grant-funding, and links to trusted installers and community energy groups across the country.

Russell Smith, Parity’s MD comments: “This Finance Accelerator is a fantastic opportunity for Parity Projects to engage and advise consumers where they are making plans for renovation and retrofit, and assure consumers and lenders that the work has been done well. Particularly important to us is that we deliver a truly national service, made possible by our first finance partner Santander and national retrofit assessment & coordination solutions provider CoreLogic U.K., and build the bridge to local and regional knowledge and expertise, such as that provided by the Centre for Sustainable Energy, Loco Home Retrofit, Community Energy England and its members.”

Lord Callanan, Minister for Energy Efficiency and Green Finance, said, “The government has put in place long-term commitments to ensure homes across the country have greater energy efficiency to reduce bills, drive down energy use and lower emissions. We are supporting these organisations to develop fresh and innovative ways of helping more people get better access to energy efficiency measures, such as loft insulation, double glazing and heat pumps.”

Nick Potter, Homes Marketing Director, Santander UK, comments: “The Finance Accelerator is providing a fantastic opportunity for us to address one of the biggest challenges facing UK housing in modern times, greening our homes. A national retrofit service is a significant step towards supporting households to achieve more energy efficient homes and reduce their carbon footprint. The concept of retrofitting is overwhelming for many households, so building an end-to-end service that starts with a bespoke home retrofit plan and provides expert guidance on how to execute that plan would be a huge help in removing the uncertainty consumers face. An assessment of the retrofit work once finished provides homeowners with assurance that the completed work has both met their objectives and been carried out to a high standard. It’s very exciting to be able to work collaboratively across industries with Parity and CoreLogic U.K. to bring this to life.”

Rob Cartwright, CoreLogic U.K.’s Energy Services and Solutions Director comments: “We’re delighted to be a partner in this project. We’re having more and more engagement with lenders and surveying firms about how to support homeowners on the retrofit journey; it’s something they want to be doing, but need support and assurance along the way, and the Empower project will deliver a prototype service to do that.”

Ian Preston, director of household energy services at the Centre for Sustainable Energy said: “Improving our UK homes at scale so they stop leaking heat and wasting energy is one of the biggest challenges facing the UK. That’s why it’s so exciting to be working with a big high street lender on this new finance accelerator. We can fast-track progress towards our collective net-zero targets, empowering people to cut down on energy bills and transforming homes so they’re fit for the future.”

Parity’s Russell Smith concludes: “This is an exciting advancement for retrofit in the UK and our mission to provide every home with a workable retrofit plan. This funding is vital to the design and testing of complex business processes which must be relevant and seamless to the homeowner, wherever they live in the country. We are determined to make this vital funding work positively by designing and building a prototype service that can really make an impact on the retrofit market, by reducing cost, trust and knowledge barriers to homeowner investment.”

There are a number of opportunities to get involved in this project.

Contact Josie Evetts josie.evetts@parityprojects.com for more information.