UK ministerial department the Department of Energy & Climate Change (DECC), which works to ensure the UK has secure, clean, affordable energy supplies and promote international action to mitigate climate change, announced on Wednesday that over GBP2.6m has been issued through the New Green Deal Home Improvement Fund (GDHIF) in the first week of June, according to industry estimates.
The Green Deal Home Improvement Fund (GDHIF) offers households in England and Wales up to GBP7600 cash back to offset the cost of having energy efficiency improvements made to their homes. Funding from the scheme has been available since the beginning of June 2014 and the DECC has already received 1,736 applications from householders planning to install energy efficiency measures such as solid wall insulation and new heating systems. Average annual bill savings from installing energy efficiency measures in a three-bed semi-detached house are estimated to be around GBP270, while savings from other measures such as upgrading a boiler can reduce a customer’s energy bill by about GBP100 annually.
Under the GDHIF, domestic energy customers can claim up to GBP1000 for installing two measures from an approved list and/or up to GBP6000 for installing solid wall insulation. Customers are required to have their home improvements recommended on an eligible Energy Performance Certificate (EPC) that is less than 24 months old, or a Green Deal Advice Report. Householders can also get up to GBP100 refunded for their Green Deal Assessment.
The new incentive scheme also entitles householders who carry out energy efficiency improvements on a property purchased in the 12 months prior to application to qualify for up to an additional GBP500.
In addition, private or social landlords can apply to the GDHIF for funding if they undertake to improve the property and are paying the costs themselves.
The GDHIF is also expected to open up the market for smaller businesses in the energy efficiency sector, competing in new and innovative ways and providing further opportunities for jobs and growth.
Ed Davey, the Energy and Climate Change Secretary, commented:
“We’ve changed the Green Deal to make it simpler and faster for people to make their homes more energy efficient – you could get up to GBP7600 back, straight into your bank account.
“I want as many people as possible to benefit from this unmissable offer. It won’t be around forever, so sign up now and get your home ready for the winter.”