Green Homes Grant
The Green Homes Grant was one of the major announcements in chancellor Rishi Sunak’s summer statement. Set to launch in September 2020 the scheme aims to kick start a green recovery by offering homeowners vouchers worth up to £5,000 to make homes more energy efficient.
The scheme will help homeowners to pay for environmentally friendly improvements to make their homes more energy efficient though the introduction of insulation. Full details are not yet available but here is what we know so far.
How do I get the Green Homes Grant?
Once the government website is up and running, you will need to apply via the website to pre-approved suppliers. The chancellor’s speech suggested that everyone will be able to get a grant, but qualifying income levels and whether every home will qualify has still to be confirmed.
Unfortunately, the green homes grant only applies to England, so homes in Scotland, Wales and Northern Ireland are not currently included. There are other grants which cover these locations already.
How much is the Green Homes Grant worth?
The vouchers will cover up to two-thirds of the cost of the energy efficient improvements up to a maximum of £5,00 per household. This means that you’ll need to pay for the first two thirds of costs and anything over £15,000.
Households on low incomes will be able to get a grant covering the full cost of the improvements up to a maximum of £10,000.
Improving the energy efficiency of your home will help to cut your energy bill meaning savings on your bills going forward. But dealing with drafts and improving insulation will greatly improve the comfort of your home which can be even more valuable than the savings.
What does the Green Homes Grant cover?
The government hasn’t yet produced a complete list for now the treasury has said that vouchers will be available to pay for “green improvements such as loft, wall and floor insulation” and the business secretary Alok Sharma suggested that double-glazing would be included. We are hoping that by the time the list is produced triple-glazing will be the go-to answer. Whether efficient boilers are included is debated.
There is some suggestion in the press that before you can go ahead, you will need a pre-qualifying inspection to confirm your home is suitable. It may also be that there is some dictate about what the house needs, for example you may want new windows but you may be told that it needs to be part of a package including loft insulation.
The scheme is set to launch in September at which point you should be able to apply online. Hopefully, the list of the energy efficient measures that will be included will be available soon. We will repost as more details are confirmed. In the meantime, we recommend considering either our options report or something similar, to ensure that you target you voucher most efficiently, have a long-term renovation, don’t have to undo or repeat work and are only considering options that are right for your type of home.
If you are planning on starting energy efficient work on your home you may want to wait for a voucher, but there is no guarantee that you or the work will be eligible. If you are relying on the grant to help fund work do not start until the government has released details on how to apply as not all suppliers will be able to accept the vouchers.