Following the Government’s recent announcements concerning the changes to renewable energy subsidies, you may be wondering what funding and incentives are still available to help make your home more energy efficient.
The Green Deal
Despite the end of the Green Deal, if you managed to get your application in before the 23rd July 2015 closing date, your Green Deal plan will still go ahead. If you have an existing Green Deal plan this will also continue and you’re advised to continue repaying your loan which will be collected via your electricity bill as before.
The Green Deal Home Improvement Fund
The Green Deal Home Improvement Fund, which was added to the Green Deal in 2014, still exists. However, the deadline for applications is 30th September 2015 and no further finding will be released after that date.
The fund currently pays up to £1,850 towards the installation of two energy efficiency solutions for your home. However, these are limited to cavity wall, flat roof, floor and rooms in roof spaces insulation, double, triple or secondary glazing and condensing mains gas boilers, replacement warm air units, fan-assisted storage heaters, waste water heat recovery and energy-efficient replacement doors. To benefit from the Green Deal Home Improvement Fund, you need to install two or more of these energy saving solutions costing up to £1,250 and then you will be able to claim back 100% of the costs.
On top of that, you can get £100 of your assessment costs refunded if you carry out the home improvements recommended in the Green Deal assessment. And if you bought your home in the last 12 months and have installed two or more renewable energy solutions as detailed above, you can get a further £500 on top of the £1,250 towards home improvements.
So, if you’re keen to take advantage of the £4m of funding still available to help with the installation costs of renewable energy solutions in your home, we suggest you do it as soon as possible as the funding may run out before the deadline.
To apply, you’ll need a Green Deal assessment and an Energy Report also known as an Energy Performance Certificate (EPC). Once you receive your Green Deal assessment, get a quote for the recommended home improvements from a Green Deal installer and apply for your Home Improvement Fund voucher.
The Renewable Heat Incentive (RHI)
The Renewable Heat Incentive scheme is still available and enables you to benefit from affordable green solutions to improve the energy-efficiency of domestic and non-domestic properties and reduce your energy bills. To apply for the incentive you will need a Green Deal assessment and it’s worth checking the changes to eligibility which you can find on the Energy Saving Trust’s website here.
The Feed-In Tariff (FIT)
The Feed-In Tariff is also still available and helps with the installation costs of solar panels, as well as enabling you to earn money from the renewable energy you generate. Currently the scheme’s Generation Tariff allows you to earn a fixed income for every kilowatt hour of electricity you generate, regardless of whether you sell it back to the grid or use it in your property. The Export Tariff enables you to earn an additional fixed income for every kilowatt hour of energy you sell back to the national grid.
However, the Department of Energy and Climate Control has announced that it will review the Feed-In Tariff later this year, so watch this space.
If you’d like to take advantage of the funding and incentives currently still available, get in touch and we’ll advise you on the best scheme and renewable energy solutions for your property.
