Chameleon Technology (UK) has received funding totalling £155,692 in the recently announced Green Home Finance Accelerator (GHFA) project from the Department for Energy Security and Net Zero (DESNZ).
The innovation funding has been established for the development of green finance products to facilitate the uptake of home energy efficiency and low carbon heating measures by the public.
Chameleon Technology is set to develop a complete end-to-end solution that enables homeowners to more accurately measure their home’s energy efficiency, with the additional offer of a tailored loan product to meet their retrofit needs.
In total, £4.1million of government funding has been released to 26 projects for the GHFA project, all designed to make greener home solutions more affordable.
Lord Callanan, Minister for Energy Efficiency and Green Finance, has commented: “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.”
Introducing ‘HTC-Up’
Chameleon Technology’s HTC-Up project will help domestic homeowners looking to improve their home’s energy efficiency, with initial support tailored to the needs of landlords.
The project’s funding will be used to assess the viability of a one-stop-shop for energy efficiency improvements, from initial assessment to financing, and even providing a list of accredited suppliers to choose from.
Using Heat Transfer Co-efficient (HTC) technology, Chameleon Technology will provide homeowners with an accurate and current measurement of a property’s energy efficiency. This will avoid having to rely on dated survey-based method used to produce current EPC ratings, that may not reflect actual efficiency.
The HTC algorithm takes smart meter data and internal temperature readings, collected through an ivie Bud in-home display, and combines these with external temperature readings gained from third party weather data. This data combination creates a much more accurate measurement of how much heat is escaping the home, leading to a more precise carbon-efficiency score for the property.
HTC-UP will guide these homeowners through several stages in a managed service that will include:
- Accurately measuring a property’s current thermal energy efficiency performance.
- Recommending products and/or adjustments to be made in the property for maximum impact and efficiency, including the optimal order of installation for these changes (where applicable).
- Partnering with NatWest to provide a flexible loan product to meet both these required changes and the owner’s budget.
- Providing a clear and simple route to booking credible, approved suppliers who can install these low-carbon technologies or energy improvement measures.
- Verifying the effects of the home improvements with an additional assessment, to ensure the funds have been correctly spent.
- Considering any next steps which could further improve the property’s energy efficiency
Welcoming change
“Chameleon Technology is dedicated to creating effective change by making low carbon and energy efficiency choices easy for everyone,” says Rachel Posgate, Strategic Partnerships Director at Chameleon Technology.
“By harnessing a building’s thermal energy performance, from newly digitalised energy data made possible by the rollout of smart meters, we want to be able to give homeowners and landlords the most accurate information on how they can best improve a home’s energy efficiency. Whether that’s through insulation, double-glazing or more complex elements, this HTC-Up project is the platform needed to enable real change through mass adoption.”
Katherine Annand, Climate Lead for Retail Banking, NatWest Group adds: “We’ve found that our customers are increasingly thinking about rising energy bills and how to be more sustainable in their homes. Given residential properties generate around 15% of UK total climate emissions, we’ve always been committed to building the products and partnerships to help us support customers in making informed, greener choices and play our part in tackling climate change. Our partnership with Chameleon is a really positive step for us in helping customers understand their energy consumption within their home.”
