a featured image of a blog post that highlights the topic £2bn Green Home Grant for Homeowners

£2bn Green Home Grant for Homeowners

Households are set to receive grants of up to £10,000 to make their homes eco-friendly and save over £600 a year on energy bills while cutting carbon emissions at the same time which is also called the green home grant.

But how does the scheme work? And more importantly, how does it impact contractors and tradespeople?

As part of a broader £3 billion budget plan, Chancellor Rishi Sunak announced a £2 billion grant scheme that will be used to shoulder energy-saving home improvement expenses of thousands of homeowners in England.

The government will fund two thirds or up to £5,000 per household’s green improvement cost. At the same time, they will be taking on the full expenditure of up to £10,000 for vulnerable and poorer families.

Owners and landlords can apply for vouchers starting this September through online applications. Some of the covered projects include roof and wall insulation, as well as double glazing of windows and doors. This

The Chancellor enacted such a scheme in the hopes of feeding three birds with one seed: helping residents lower their bills, making and supporting more than 100,000 jobs, and reducing emissions to save the environment.

In addition, the government will use the remaining £1 billion to make public buildings such as hospitals and schools environmentally friendly, contributing to the UK’s goal of a net-zero emission by 2050.

How Will It Affect The Business Industry?

The green home grant is a huge investment that will boost the economy by helping create thousands of jobs and bolster the business of contractors and skilled workers.

It also encourages homeowners to prioritize green home improvements, creating several opportunities for local workers such as plumbers, construction, and tradespeople to secure jobs amid the pandemic.

As we recall, the coronavirus outbreak dealt heavy blows to the workforce, especially to the construction industry and trades business. Construction activity rapidly declined, and a significant number of builders lost their jobs, so the green home grant is also one of the solutions during this time of recession.

According to Powered Now—a company offering services to the trade industry—homeowners need this kind of incentive to bring traders back into their homes and start making cost-efficient improvements.

How Does The Scheme Work?

The scheme or the green home grant is set to launch in September, during which households will be able to process their voucher applications online. The entire guidelines of the program have yet to be issued, but the gist of the primary process may include:

  • A list of suggested energy-saving measures a homeowner needs.
  • Then, an accredited supplier or contractor will provide a quote of the services and materials needed.
  • Once this is approved, a voucher will then be issued by the government.

Currently, there are no details yet regarding accreditation and assessment details for eligible contractors. Also, the full list of house improvements covered by the scheme has not been published yet.

There is also no word regarding the span of the application process, voucher dissemination, and the criteria that will be used to categorize households.

Conclusion

Some feel that this program is a far-fetched attempt to solve the current economic and environmental crises. But many agree that it is a start.

The green home grant, together with several plans which was announced during the summer statement to help the citizens, serves as little building blocks towards the real goal—surviving the aftermath of the pandemic.

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