Decarbonising heat amidst an energy crisis
To achieve net zero carbon by 2050, we need to retrofit 1.8 homes every minute, starting now.
According to the UKGBC, to achieve net zero by 2050, we will need to improve almost all of the UK’s 29 million homes.
And right now, progress isn’t happening fast enough. Retrofitting homes is complex and expensive and, with energy prices rising, we are seeing more and more people faced with the stark reality of fuel poverty.
So, how do we break this deadlock?
The need for low carbon, low cost heat is clear. But how do we get there?
At Sustainable Ventures, we know that innovation is key. By supporting entrepreneurs who are tackling these challenges, we can develop high-impact solutions, faster, whilst creating green jobs along the way.
Our Affordable Warmth Incubator is doing just that. Through our 9 month venture builder, we are working with entrepreneurs striving to tackle this problem with innovative solutions.
We need to build a collective understanding of how innovations can have the greatest impact at scale.
By supporting entrepreneurs to develop innovative solutions, plus collaborating with partners across the sector, we are beginning to build a collective understanding of how innovations can have the greatest impact at scale.
This year’s Affordable Warmth cohort are currently testing the feasibility and commercial potential of their concepts, alongside the potential for impact on this vital part of the UK’s net zero journey. Meet the teams below:
Reevo
Founder: Veronica Rocha
Reevo aims to contribute towards affordable warmth by tackling the labour shortages within the Retrofit market, creating the bridge that connects those seeking to join the Retrofit Industry with those looking to hire skilled workers.
Veronica - “We are currently in the process of validating our venture and researching aspects such as demand, stakeholder interest, people’s knowledge and understanding of retrofit whilst working on our approach towards making retrofit relatable and accessible for everyone.”
RetroSet
Founders: Maggie Ou & James Tang
RetroSet is helping retrofit energy inefficient homes in the UK at scale by helping companies participate in the voluntary carbon market through developing carbon offset projects.
“About 164 million tonnes of carbon were offset globally last year, mainly from reforestation projects overseas. We believe we can add to this through locally based projects.”
- Maggie & James
Terrapin
Founder: Neil Wedlake
Terrapin's mission is to reduce the obstacles and frictions impeding the take-up of retrofit and upgrade projects by private property owners. Currently, the customer journey follows a poorly-coordinated path, characterised by a fragmented installation sector and limited assurance as to project quality or eventual savings in energy costs.
Neil - “Our aim is to improve access to sufficient subsidy and incentives, cheap and long-duration financing, efficient and clear assessment, and coordinated, accredited installation. Our work now is in building relationships with stakeholders to understand their particular needs, be it customer acquisition, accreditation of works or outcome measurement to better translate financial capital to installed assets.”