The Government has announced the new Green Home Grant as part of the post COVID19 stimulus plan, with vouchers available up to £10,000 for homeowners and landlords to improve homes and make them energy efficient.
The Government estimates the vouchers will help up to 650,000 homes in England to become more energy efficient, saving up to £300 per year on energy bills whilst supporting over 100,000 green jobs.
The funding vouchers will also help Britain work towards its legally binding target to cut greenhouse gas emissions to net zero by 2050.
What is the grant?
The Chancellor, Rishi Sunak, has announced that he will be giving £2 billion worth of grants away. The grants will make homes in England more energy efficient. Grants will cover 2/3rds of the cost of an install up to a value of £5,000 and for low income households, the grant will cover the full cost of the works up to £10,000
The grant is expected to cover measures such as insulation, new double-glazing windows and doors and replacing old inefficient boilers.
How will the grant work?
Grants will be allocated in the form of a voucher. The voucher will be available to download online with the scheme expected to start in September 2021.
The homeowner will then be able to search a list of approved suppliers in the local area for quotes and to carry out the home improvement works
How much will the Green Home Grant cover?
The Chancellor in his speech on Wednesday said: “From September, homeowners and landlords will be able to apply for vouchers to make their homes more energy efficient and create local jobs.
“The grants will cover at least two thirds of the cost, up to £5,000 per household.
“And for low income households, we’ll go even further with vouchers covering the full cost – up to £10,000.”
For a qualifying energy efficient improvement costing £4,500, a homeowner would pay only £1485. The remainder of the £3015 cost covered by the Green Home Grant.
The full £4,500 cost of the install would be covered in low income households.
In an interview with the BBC, the Business Secretary Alok Sharma said earlier this week. “What [the scheme] ultimately means is lower bills for households, hundreds of pounds off energy bills every year, it’s supporting jobs and is very good news for the environment.”
Improvements covered by the Green Home Grant..
The exact details of the grant are yet to be published but it is expected that a vast array of measures will be covered such as wall, loft and floor insulation as well as energy efficient glazing and upgrading old boilers.
Exact eligibility for the scheme has not yet been announced but will be expected soon
How we can help…
LMG Home Improvements are an experienced energy efficient contractor offering the following services.
- External Wall Insulation
- Internal Wall Insulation
- Loft Insulation
- Room-In-Roof Insulation
- Underfloor Insulation
- Windows and Doors
- Boiler Upgrades
We also offer funding through the Energy Company Obligation Scheme (ECO3) for households in receipt of qualifying benefits. To find out more click here…