Money Granted For Energy Efficient Installations

Government could grant households anything up to £7,600 for homeowners to make improvements to their home which would make them become more energy efficient. This has been announced following the unsuccessful popularity of the Green Deal Loan Scheme.
The Green Deal that was launched last year by the Government was supposed to create a revolution in energy efficiency where homeowners could fund home improvements through loans paid back out of the resulting savings on their energy bills however, the interest in this is extremely low with just 2,000 households signing up. Reasoning for the lack of interest is probably because the actual interest placed on the loans is considerably higher than most standard loans.
Consumers will be offered £1000 for installing certain types of home improvements. They must install two approved measures from storage heaters, condenser boilers and double glazing. An additional £500 will be supplied to the homeowner if they purchased the property within the previous year.
Believe it or not, it isn’t as expensive as some people think to transform your home. Installing energy efficient items and save money on your bills as well as reduce wasted energy is very much possible. A £1,500 grant from the government could cover the entire cost for many of the approved measures to be installed.
In addition to the above grants you can claim the Government are also offering anything up to 75% of the cost to install solid wall insulation. When put into figures this means consumers could qualify for up to £6,000 and then could also claim a £100 refund for the cost of the initial
Green Deal Assessment which can cost anything up to £150.
To encourage interest in The Green Deal the Government is already running a £125m cash-back scheme but so far just £4m has been paid out. In December last year the Government increased the pay-out amounts available and this hasn’t gone unnoticed but now at the beginning of May they are offering even more generous grants.
Labour’s shadow energy minister, Jonathan Reynolds MP stated: “The way to get energy bills down in the long term is to invest in insulation and save the energy that escapes through our windows, walls and rooftops. But the Green Deal has been a total flop. Today’s announcement is just another example of a desperate Government trying to fix a broken scheme.”
“No amount of gimmicks and giveaways can distract from the fact that the fundamental problem with the Green Deal is that the interest rates are too high. Unless the Green Deal is a good deal and saves the public money, then it will not be a success.”
The Government was recently urged to continue with their commitment to efficient energy and it appears to have worked, as households will be granted money for their energy efficient modifications.
When applying for the grants it is important to note that as with other grants there are no financial eligibility criteria for this meaning that millionaires or multi billionaires could potentially have the same access to the grants – the taxpayer funds. This has brought up further criticism towards the Government at their failure to target the cash available at those who are unable to pay for the measures themselves.

The Governments attempt to invest extra money into making homes more efficient is long awaited by many but to be entirely honest the extra £120m isn’t enough to cover the full scale of the problem.  It is unlikely that a mass amount of homeowners and consumers will invest in energy efficient improvements over the next year.

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