Mitsubishi Electric

More to be done to hit Net Zero by 2050 – Mitsubishi Electric reacts to Autumn Statement

  • 23 Nov 2023

Russell Dean, Residential Product Group Director at Mitsubishi Electric, believes more still needs to be done if we are to reach Net Zero by 2050. This includes making heat pumps more affordable for homeowners and setting an end date for the installation of fossil fuel boilers…

“This Autumn Statement presented a major opportunity for the government to address the interlocking cost-of-living and energy crises. The introduction of a ‘green stamp duty’ would have been a step in the right direction to spur investment in energy efficiency, but it sadly didn’t make an appearance in the Chancellor’s bumper wedge of announcements,” he writes.

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“Fundamentally, the nation needs to firmly keep on the path to achieve Net Zero by 2050. In an Ipsos report commissioned by Mitsubishi Electric, 80% of respondents agree that the government has a responsibility to act to reduce carbon emissions, and 41% say the government should set a deadline for decarbonisation of the economy.

“Planet and wallet-friendly policies don’t have to be mutually exclusive. There are savings to be made on the running costs of fossil fuel boiler alternatives, such as heat pumps over their lifecycle.

“Decoupling the cost of electricity from gas, could bring immediate savings for households if the government were to take this step. And this is before we include the heat pump grant of £7,500 available to homeowners to install a heat pump.

“On top of this, the government must set an end date to the installation of fossil fuel boilers and should increase the support for training of more heat pump installers if we are to hit our ambitious Net Zero targets and decarbonise home heating.”

Mitsubishi Electric Living Systems,
Travellers Lane,
Hatfield,
Hertfordshire,
AL10 8XB
United Kingdom

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