Many were excited about the new Green Deal cash incentive scheme, which could get you £7,600 cash back for making your home more energy efficient. But now the fund’s been closed just seven weeks after launch.
In June it was announced that £120m had been put aside for the Green Deal fund for the 2014/2015 financial year. The Government clearly expected an initial rush of consumers to start claiming, as we knew all along that the payment rates and eligible technologies would be reviewed after £50m in vouchers had been claimed.
As expected, the announcement came on Tuesday 22 July that this £50m mark had been reached, and the £7,600 maximum amount you could claim was reduced to £5,600.
Out of the blue, it was then announced yesterday that £120m worth of Green Deal Home Improvement Fund vouchers had been claimed, and the fund was closed with immediate effect. No new applications will be accepted. A fund that was supposed to last a year didn’t make it past two months. Nor is it clear whether any more money will be available at any point this year.
What does this mean for you?
If you’ve paid for a Green Deal Assessment or Energy Performance Certificate, but are yet to apply for vouchers or haven’t received a voucher, you’ll find yourself unable to claim back any cash for their assessment. This is unless the Government puts in place any special arrangements to help those who have been left out of pocket.
Those hoping to make their homes greener and reduce their energy bills may now be unable to afford energy-efficient measures out of their own pockets. So we want to hear from you:
• Were you in the middle of applying for the Green Deal Home Improvement Fund, or were you considering doing so soon? We’re particularly interested in what your installer is now saying if you have already agreed the works.
• Are you less likely to consider installing energy-efficient measures in your home now that there is no offer of any Green Deal cashback?