In December 2013, DECC announced that they would be strengthening and extending the incentives offered as part of the Green Deal in part to drive uptake of the beleaguered Green Deal policy, but largely to mitigate for the carbon reduction ambition cut from ECO. £540m overall has been set aside for incentives to help drive the uptake of energy efficiency measures outside of ECO funding; today’s announcement covers a potential incentive pot of £120, with £50m of that guaranteed at the rates of subsidy announced today. The Government proposal is for a new “Green Deal Home Improvement Fund” (GDHIF).
In addition to the proposals for the incentive, DECC released supporting consumer research which looked at homebuyers attitudes to energy efficiency financing, and in particular examined the three options for incentive that were proposed in December 2013. These three options were: Cashback, flat grant for installation of multiple measures, and incentives for improving the EPC level of a building. It is the second option, a grant for the installation of specific multiple measures which DECC has elected to choose.
Use the tab below to download our full summary of today’s announcement.