Green Homes Grant Scheme Announcement
This week, Chancellor Rishi Sunak has pledged a £3 billion investment in green projects in the UK in a bid for an ‘eco-friendly economic regrowth’.
The aim of this investment is to hopefully aid the UK in meeting it’s 2050 target of achieving zero carbon emissions, as well as supporting local jobs, and lowering household bills.
A £50 million pilot scheme will be applied in the hope of decarbonising social housing through measures such as heat pump, insulation and double glazing. £1 billion has also been planned to provide funding for improving the energy efficiency of public buildings.
The biggest news to come from this announcement is the so-called ‘Green Homes Grant’. Whilst no official government guidelines have been released yet, it is expected that £2 billion of vouchers will be available to UK homeowners to make environmentally-friendly improvements to their homes.
An online system to apply for the grant is expected to launch in September this year, it will also provide information of accredited local installers. Once the chosen installer has issued a quote and the work approved, a voucher will be issued to the homeowner.
It is expected that the Government will pay for at least ⅔ of all costs up to a limit of £5000 per house. With those in the poorest households potentially receiving up to £10,000 without having to contribute to any costs.
It is not year clear what measures will be available under the Green HomesGrant Scheme, but we will of course be keeping a keen out for more details and will be updating this article as they get released.