Snugg, the home energy efficiency platform based in Edinburgh, has launched a beta version of ‘Carbon Cashback’.
This new platform lets homeowners earn payments for cutting their home’s carbon emissions.
By using smart meter data, the initiative is aimed at encouraging people to improve their home’s energy efficiency.
Developed through the Government’s ‘Green Home Finance Accelerator’ programme, Snugg’s platform is the first in the UK to track and confirm carbon savings using smart meter data.
These savings are converted into carbon credits, which are sold in the Voluntary Carbon Market.
Homeowners installing energy-efficient solutions like heat pumps or solar panels can earn up to £2,000 over 10 years, with earnings based on verified carbon reductions.
Payments are determined through smart meter data integration and adhere to a Verra-approved method.
Businesses partnering with Snugg can offer this sustainability-focused reward system, encouraging customers to reduce carbon emissions while gaining insights on energy consumption and emissions.
George Wilson, carbon markets lead at Snugg, said: “Carbon Cashback represents an important step forward in incentivising home energy efficiency improvements by tackling the biggest barrier homeowners face – cost.
“By offering financial incentives, we believe this innovative approach will result in many more homeowners upgrading their homes.
“For businesses, it’s an opportunity to differentiate their offering while supporting customers on their sustainability journey and use valuable data insights to help meet their net zero objectives.”
Wilson added: “And for the first time, homeowners can easily participate in and benefit from the Voluntary Carbon Market.”
