Middle-income households could get up to £15,000 to make their homes more energy efficient under new government plans, it says.
Business Secretary Grant Shapps is to announce a new £1billion fund called ‘Eco Plus’, which will help homeowners who can help pay for the work.
The government already has programs in place to fund energy efficiency improvements for low-income households, as it aims to help billpayers save money as energy prices rise.
The new plans will allow eligible households to fund attic and cavity wall installation, as well as smart heating controls like advanced thermostats and thermostatic valves, according to the Times.
Business Secretary Grant Shapps, pictured here outside Downing Street, will announce the ‘eco plus’ fund
Energy efficiency measures funded by the program could save homes hundreds of pounds a year. Pictured: A file photo of someone adjusting the temperature on a radiator
The paper reports it will cover more than 70,000 homes and save hundreds of pounds a year – roof insulation alone can save £640 a year and recoup the £1,100 installation price in just two years.
Ministers will consider plans to make the money available to those in council tax bands A to D for the next three years from April, potentially covering 75 per cent of all upgrade costs.
Funding will be managed by energy companies, unlike the green home grant that was canceled last year.
Smart heating controls such as thermostatic valves and advanced thermostats can cost up to £800 but save households £525 a year.
Intelligent heating controls could also fall under the new system. Pictured: A photo of an advanced thermostat
The program could contribute thousands of pounds towards installing attic insulation in middle-income homes. Pictured: A file photo showing a construction worker installing insulation in an attic
In addition to the hundreds of pounds saved by attic insulation, cavity wall insulation can cost up to £2,500 but can also save £525 a year.
The funding is part of plans to be announced by the government to reduce household energy use by 15 percent by 2030.
It was previously reported that Cabinet is preparing to launch a £25million public information campaign to encourage the public to use less energy.
Chancellor Jeremy Hunt previously said people would join a “national mission” to reduce the “energy dependency of Putin’s decisions.”
https://www.soundhealthandlastingwealth.com/uncategorized/middle-income-households-will-get-15000-government-grants-to-make-homes-more-energy-efficient/ Middle-income households ‘will receive £15,000 government grant to make homes more energy efficient’