Green Homes Grant extended by a year and new survey shows 84% of homeowners intend to improve their homes to reduce energy bills

What is the Green Homes Grant?

What does it mean for Energy Suppliers?

Some analysts are forecasting that up to 600,000 homeowners could reduce their energy bills by as much as

£600 a year if they go all out with the Green Homes Grant.

Energy suppliers are already under pressure financially as a result of a rise in the number of customers unable to pay their energy bills.

In order to assist them with facing rising bad debt caused by the Covid-19 pandemic the energy regulator Ofgem has launched a consultation on whether to raise the energy price cap.

Also read: Ofgem considering Energy Bill hike to help ease pressure on Energy Suppliers

Going Green

The Government is going full steam ahead with what Prime Minister Boris Johnson said will be a Green industrial revolution to reach the UK’s target of NetZero emissions by 2050.

“The Green Homes Grant scheme gives homeowners and landlords right across the country a cheaper way to make their homes more energy efficient and cut their bills – all while making their contribution to tackling climate change.

“Today’s announcement means an extra year to take advantage of this new scheme, helping households and tradespeople who can plan their workload and create new jobs in their communities. I would urge anyone to visit the Green Homes Grants website and see how they could benefit,” said Climate Change Minister Lord Callanan.

Cutting Energy Bills

According to a new survey, 84% of British homeowners have said they are planning to make energy efficiency improvements to their properties over the next 12 months with over half saying they will utilise green measures to help reduce their energy bills.

The findings also show that three in five of people with properties valued over £600,000 or more plan to take advantage of the Green Homes Grant. In contrast just one in five people with property valued between £101,000 to £200,000 said they were aware of the scheme.

The fact that less wealthy homeowners have said they will use the Green Homes Grants suggests that the government needs to do more to raise awareness of the scheme.

27% of those surveyed said they believe that by introducing ‘green’ upgrades they will make their properties more appealing to potential buyers and raise their value.

Further Reading

Green Energy Tariffs rise in importance for consumers, cost of energy bills remains top concern

Is ‘Green Energy’ really good for the environment?

Smart Meter Installations hit a record high in October as Energy Suppliers increase efforts

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For more information on how to start and manage an energy company, get in touch with Dyball Associates today.