Landlords and home owners will be able to fund energy efficiency improvements on their properties after a Green Homes Grant was unveiled by the Chancellor Rishi Sunak yesterday.
Sunak’s economic update in the House of Commons yesterday included a £2bn grant scheme that promised landlords and home owners vouchers worth up to £5,000 per household to spend on making their properties more energy efficient.
For those on the lowest incomes, the scheme will fully fund energy efficiency measures of up to £10,000 per household.
The Treasury said this could support more than 100,000 green jobs and help strengthen a supply chain that will be vital for meeting its target of net zero greenhouse gas emissions by 2050.
The scheme aims to upgrade more than 600,000 homes across England, saving households hundreds of pounds per year on their energy bills.
Landlords have had to ensure their properties have a minimum energy performance certificate rating of E on new lets since April 2018 but this was harder to fund in the run up to the deadline as Green Deal loans were scrapped in 2015.
The National Residential Landlords Association (NRLA) has welcomed the new grants.
Ben Beadle, chief executive of the NRLA, said: “Improving the energy efficiency of rental housing is good news for tenants, landlords and local economies.
“We encourage all landlords to make use of this as it will mean housing standards are improved, tenants will save money and it will reduce carbon emissions across the whole sector.”
Peter Earl, head of energy at comparison website comparethemarket.com, tentatively backed the move.
He said: “Building greener homes is an essential part of creating a more sustainable future, and this grant is a tentative step in the right direction.
“Lower household bills, annual savings for millions of households, and a greater focus on measures that help our planet are all welcome news for households across the UK.
“However, it’s important to put the amount pledged into context; whilst it is enough to upgrade 650,000 homes, this only represents 2% of all households in the UK.”
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