Published On: Wed, Jul 8th, 2020

Green Homes Grant Scheme: How does green scheme work? How to claim | Personal Finance | Finance

The new Green Homes Grant Scheme comes as part of Rishi Sunak’s plans to create more than 100,000 green jobs in a bid to kickstart the economy following months of lockdown. In addition to creating tens of thousands of jobs, the scheme is expected to help the UK meet its 2050 target of achieving net-zero carbon emissions, according to the Treasury. The programme will launch in September with online applicants for recommended energy efficient measures. But, how will the green scheme work?

Under the new scheme, homeowners will be given £5,000 in energy savings vouchers to help them insulate their homes.

Announcing the move, Mr Sunak said the Government will be investing £3billion into green technology.

A third of that will be spent on revamping public buildings and social housing, while the remaining £2billion will be go towards the £5,000 energy vouchers to homeowners.

The most vulnerable households will receive up to £10,000 to help make their homes environmentally friendly.

READ MORE: Sadiq Khan slams Rishi Sunak’s mini budget proposals (2020-07-08) [VIDEO]

When the scheme opens in September, homeowners will be able to apply for the vouchers online.

Once a quote for home improvements works is provided, the Government will issue the voucher.

According to the Treasury, the way it will work is that the Government would need to pay at least two-thirds of the cost of home improvements that save energy, up to the given value.

Mr Sunak said the Government will also provide extra work for plumbers, builders and tradesmen in a bid to boost the economy and help it recover.

What can you spend the money on?

Homeowners will be able to use the money on insulation for lofts, wall and floors, as well as eco-friendly boilers, heat pumps, double or triple-glazing windows, low energy lighting and energy-efficient doors.

Brits will be able to access a website in September, which will have various options for renovating their homes into a more energy-efficient one.

There will also be a list of accredited suppliers displayed on the website, which the Government says will create work for tradesmen.

The Chancellor said that the scheme is estimated to save Brits up to £300 a year on their energy bills.

Business Secretary Alok Sharma told BBC Breakfast he thinks the scheme will help households save money in the long run.

He said: “What it ultimately means is lower bills for households, hundreds of pounds off energy bills every year, it’s supporting jobs and is very good news for the environment.”

Greenpeace spokesperson Rosie Rogers said that the UK “isn’t playing the same league” following a £36billion investment by the German government and £13.5billion by France.

“Of course this money is better than nothing, but it doesn’t measure up to the economic and environmental crises. It’s not enough to create the hundreds of thousands of new green jobs that are needed”, Ms Rogers said.

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