MoneyMagpie

Oct 09

Apply for green funding while you can

The government has announced that an extra £100 million will be added to the Green Deal Home Improvement Fund, after the previous £120 million was spent in just six short weeks!

If you’re looking to make your home more green (and save money that way) then you should apply for funding as soon as you can. Although it’s unlikely the fund will be ready until November, if past experience is anything to go by it will be gone very quickly.

So keep an eye on the news (and on our updates) to find out when it’s available.

 

 

 

What was the Green Deal Home Improvement Fund?

green fundingThe Green Deal Home Improvement Fund launched on 1 June 2014 to replace The Green Deal.

It was £120 million of government funding made available to help make people’s homes more energy efficient.

There was up to £7,600 per home available to cover energy saving improvements, with the bulk to fund external and internal wall insulation.

To be eligible for the funding you had to have the measures recommended by a Green Deal assessment, which cost around £100-£150.

By the end of July, however, the fund had been used up and was suddenly closed. This left people who had paid for a Green Deal assessment but who had not yet applied for funding out of pocket. The government refused to refund those who were in this situation.

You can find out more about the Green Deal in this comprehensive article.

 

 

What’s happening now?

green fundingThe Department of Energy and Climate Change has now announced that an extra £100 million will be available in November, although there are no exact dates or details.

This is good news for those who have already had a Green Deal assessment as they last for two years, so you will be able to use it to apply for more funding.

How and when you will need to apply for funding has yet to be announced by the government, as have the exact details of what deals will be available. It is possible that the rules will be stricter now to avoid the fund disappearing so quickly.

If you’re planning to apply for funding then be aware that you will be able to apply in November. Keep up to date with the latest announcements and apply as soon as you can…chances are the funds aren’t going to be there for very long!

 

 

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