Landlords will pick up vouchers worth up to £5,000 to make energy-saving changes to rental homes under the government’s Green Homes Grant.
Thousands of homes qualify for the upgrade which is aimed at improving energy efficiency by putting Britain on track to achieve near zero carbon emissions by 2050 and to create up to 140,000 jobs.
Every home is offered £5,000 under the grant, while poorer families can expect vouchers of up to £10,000.
“From September, homeowners will be able to apply for loans to improve their homes,” the Chancellor said during his summer Statement speech in Parliament.
“This will cover two thirds of the cost – equivalent to £5,000 per household or £10,000 for low income households. This will also create thousands more jobs.”
The money is available for a range of improvements, including loft, wall and floor insulation, eco-friendly boilers, heat pumps, double or triple-glazed windows, low-energy lighting, and energy-efficient doors.
Spending £4,000 to install wall and floor insulation would leave a landlord with a £1,320 bill, with the government picking up the remaining £2,680.
In all cases, the property owner pays a third of the bill and the government pays the rest.
The Green Homes Grant will accept online applications from September with a list of improvements that qualify for the grant and accredited tradesman who can carry out the work.
The Chancellor explained most homes could save up to £600 a year on energy bills by making improvements under the scheme.
The Treasury has yet to finalise the details of the Green Homes Grant, including who gets the enhanced payment and arrangement for landlords to make claims.
