BUS applications in Jan 2024 up 39% YOY

The latest figures from the Boiler Upgrade Scheme (BUS) have been released, which show a 39% increase in the number of applications in January 2024, compared to the same month last year.

The BUS offers grants to homeowners to replace their heating systems with low carbon technologies. Currently the money available is £7,500 for ASHPs and GSHPs, and £5,000 for biomass boilers.

The total number of applications in January 2024 across all technology types was 2,046 which was the first time the scheme had received more than 2,000 applications, aside from October and November 2023, immediately after the grants were increased.

Up until the end of January 2024, there were 33,424 BUS voucher applications received, with 96% going towards ASHP installations.

The median cost of an ASHP and GSHP since the start of the scheme has been £13,200 and £24,549, respectively (including the grant value). The median cost of a shared ground loop GSHP was £21,765.

Ian Rippin, CEO at MCS, reacting to the BUS January figures, said:

“The latest figures released show the Boiler Upgrade Scheme going from strength to strength. A 39% increase in applications year on year demonstrates the uplift of the grants to £7,500 is continuing to have a positive impact on the sector.

“MCS’s January data showed a 20% increase on the average monthly heat pump deployment for 2023, which itself was the best year to date. With heat pump installations and contractor certification at an all-time high, the BUS remains a critical part of the drive to make home-grown energy more accessible and affordable.”