CHANCELLOR Rishi Sunak has revealed homeowners will be given up to £5,000 in energy saving vouchers to help them insulate their homes.
Hundreds of thousands of households will get the grants, which have been created to help make houses more environmentally friendly.
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The Green Homes Grant scheme — which will provide extra work for plumbers, builders and tradesmen and help the Covid-hit economy recover – was announced in today's mini-Budget.
Chancellor Rishi Sunak said: "From September, homeowners and landlords will be able to apply for vouchers to make their homes more energy efficient and create local jobs.
"The grants will cover at least two thirds of the cost, up to £5,000 per household.
"And for low income households, we’ll go even further with vouchers covering the full cost – up to £10,000."
Homeowners will be able to use the money on loft, wall and floor insulation, eco-friendly boilers, heat pumps, double or triple-glazed windows, low-energy lighting and energy-efficient doors.
How much do different energy saving measures cost?
There are many different energy saving options to help you cut your bills. We've rounded them up here.
- Insulation – If you want to do the job yourself, MyBuiler.com says a roll of loft insultation, which needs to be around 270mm thick, can cost just £20 per roll. But if you want to hire a specialist to do the job properly, it could cost you between £300 and £400.
- Eco-friendly boilers – An electric combi boiler, which does not release any gas into the atmosphere, costs £1,500 – £4,500.
- Heat pumps – A a typical air source heat pump installation will cost you around £6,000 – £8,000, while a ground source heat pump installation can cost £10,000 – £18,000, depending on the amount of heat required.
- Triple-glazed windows – The price tends to depend on how many windows you're glazing and the size of your home, but to replace four windows with triple glazing in a two bedroom flat costs around £1,950, according to HouseHold quotes.
- Low-energy lighting – Energy efficient light bulbs are very cheap, with a standard 6W Led one costing just £1.49 from B&Q.
- Solar panels – The average domestic solar PV system is 3.5kWp and costs around £4,800.
Brits will be able to access a website from September that will have a menu with various options for making their home more energy efficient.
On the website, there will also be a list of accredited suppliers, which the government says will create work for tradesmen across the country.
The chancellor said the scheme could save you £300 a year on your energy bills.
The Government has previously said that it will cover at least two thirds of the cost that homeowners in England spend on green upgrades, while those on the lowest incomes will not have to pay anything.
This would mean that a householder would pay £1,320 of the £4,000 bill for cavity wall and floor insulation for a semi-detached or end-terrace house, while the Government would pick up £2,680 of the bill.
Sarah Broomfield, energy expert at Uswitch.com, welcomed the move and said it would help families cut energy costs.
What else has been announced in the mini-budget
HERE'S the highlights from Chancellor Rishi Sunak's announcement today
- A stamp duty holiday for homes to get the housing market moving
- A 'kickstart' jobs placement programme where the Government will fund 25 hours a week to an employer to take on a young person for at least six months
- A huge boost in apprenticeships – and a £1000 in extra cash for firms who take on trainees and funded careers advisers to help young people get into work
- A return to work bonus for companies that bring staff back from furlough and keep them employed until January
She said: "The extra heating and electricity used during lockdown is predicted to add £195 a year to the average home’s bills.
"So the Chancellor’s initiative to help hundreds of thousands of people make their homes more energy efficient couldn’t come at a better time – especially as energy consumption is set to hike as soon as the temperatures drop."
It's one of many schemes that is due to be unveiled later on this afternoon.
In other mini-budget announcements, the government has slashed stamp duty as part of the budget masterplan.
Meanwhile, a Coronavirus second wave could make one in seven unemployed, the OECD has warned.
But here are six industries that will boom after Covid-19 and what jobs will be on offer.
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