Exchequer Secretary to the Treasury Angela Eagle today announced the European Commission has approved formal state aid to support an extension to the Landlord’s Energy Saving Allowance.
The extension, which come into effect from June 8, allows corporate landlords to claim as much as £1,500 per year for each property owned against the cost of energy-saving additions to their properties.
The goal of the extension is to increase energy efficiency in residential and rental properties, which produce more than 25 per cent of emissions in the UK.
Introduced in 2004, the LESA has played a major role in reducing carbon emissions.
Eagle says she expects the new extension to reduce emissions by “at least an additional 150,000 tonnes of CO2 once the change in implemented, demonstrating the environmental benefit of investing in energy efficiency.”
Eagle adds: “This provides an incentive for landlords to invest in making their properties more energy efficient, and for their tenants it means lower energy bills, which will be welcomed in the context of the current increasing domestic fuel costs.”