The Chancellor Rishi has announced that homeowners including landlords will be able to claim vouchers of up to £5,000 for energy-saving home improvements, with the poorest getting up to £10,000. This is part of a £2 billion Green Homes Grant initiative.
Landlords in England need to act now to make full use of the Green Homes grant. Landlords should assess the energy efficiency of their properties now so they can identify where they can use the grant money.
The online applications for the Green Homes Grant open in September 2020.
The Government under the Green Homes grant will pay two-thirds of energy-efficient home improvements in some cases up to £10,000 per property.
This Green Homes grant scheme is also intended to put money back into the economy to stimulate the failing economy and support jobs. A small contribution when it comes to the cash injection; however, every little bit helps.
The British Landlords Association are urging members for them to apply for the grant in about a month to get their properties assessed for energy efficiency done now.
Experts in energy efficiency are doubtful whether the new Green Homes Grant is addressing the core problems. Dr Chris Roberts, the assistant lecturer at Birmingham City University’s School of the Built Environment, said: “There’s the question of funding being allocated for insulation as opposed to tackling the use of gas boilers. They arguably present a far more pressing environmental concern,”. He said.
An EPC assessment will identify the energy inefficiency of a building and what you can claim to improve the efficiency of the building. Existing EPC may prove to be useful to determine where improvement is required to raise the energy efficiency of a home.
Members need to get their applications in as fast as possible because thousands of people will apply.
The likelihood of the government tightening energy efficiency regulations still further in 2021 is very high.
This will mean landlords may have to spend considerable money, improving energy efficiency in 2021/2022.
Mrs Helen Cartwright from the British Landlords Association said: “improvements that will raise the energy performance rating EPC can include replacing old wooden windows and doors for double glazing units, wall and loft insulation.”
“Existing EPC may be useful if members require another EPC, they can use the BLA discounted EPC through our provider.” She said.
Currently, owners of buildings cannot let with an energy performance rating of F or G (unless they qualify for an exemption).
Members should be taking steps now to prepare for works that can be done with the grant funding that is being made available by the Government.
Renter will also benefit as they will achieve a reduction in their annual fuel bills.
Overview of the Green Homes Deal
The Green Deal helps you make energy-saving improvements to your home and find the best way to pay for them.
Under the Green Homes improvements that could save you the most energy depend on the building, but typical examples include:
- insulation, such as a solid wall, cavity wall or loft insulation
- double glazing
- renewable energy generation, such as solar panels or heat pumps
How will the Green Homes vouchers work?
The Green Homes scheme is to be launched in September 2020. Homeowners & landlords will only be able to apply online in September.
The grant will pay for two-thirds of the cost of the energy efficiency work – a homeowner installing cavity wall and floor insulation costing £4,000 would only pay about £1,320, with the Government contributing the remaining £2,680.
Those renters on the lowest incomes could claim the full costs worth up to £10,000.
The Government will publish further information on the energy efficiency measures which the vouchers can be used for. The Government will publish a list of accredited suppliers too.
Once the supplier has provided a quote and the work has been approved, a voucher can be issued to commence with the work.
The eligibility criteria have not yet been confirmed. However, it is likely to be a streamlines process given the dire situation of our economy.How will the Green Homes vouchers work? Click To Tweet
Source: British Landlord Association
Author: Marc Attwater
Date: 20th of July 2020
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