Green Deal cash set to run out
New report suggests anyone looking to take advantage of the Green Deal Home Improvement Fund should apply ASAP
According to the Telegraph, households have already successfully applied for £25m of the total put aside by the Government to improve energy efficiency in the UK.
Although £120m has been set aside for homes to claim as part of the Green Deal Home Improvement Fund (GDHIF), of this only the first £50m guarantees applicants up to £7,600 in grants. Once the £50m runs out, it is likely that the maximum grant figure will be reduced.
The money is allocated on a first come first served basis.
Davey: ‘People would be wise to apply early’
Speaking on the success of the initiative, Energy Secretary Ed Davey said: “We are very pleased with the take-up – it is slightly higher than our expectations – but it is a bit early to be clear how it will pan out.
“I think people would be wise to apply early.”
New figures released by the Department of Energy & Climate Change (DECC) have revealed that 4,405 homes in England and Wales have received vouchers to carry out home improvements under the scheme.
How does the Green Deal Home Improvement Fund work?
Under the GDHIF, which was launched in June this year, homes can claim up to £7,600 to have energy saving measures installed. These include the addition of solid wall insulation, double glazing, replacement boilers and more.
Anyone who wishes to apply for funding under the GDHIF, will need to have a Green Deal Assessment carried out, or have an Energy Performance Certificate that is less than two years old. All work must be carried out by a registered Green Deal provider.
For additional information on how to apply for the GDHIF click through to our dedicated guide.