The Green Deal Home Improvement Fund (GDHIF) has now closed after a surge of applications. This was a cashback scheme to encourage homeowners to improve the insulation of their properties. The £120 million budget was allocated in the first 6 weeks of applications.
Whilst it is great to see the success of a Department of Energy & Climate Change (DECC) scheme, it highlights the importance to respond quickly to government incentives.
Those still wishing to improve the insulation of their home can still apply for Green Deal finance; this is a loan which is paid off by savings on energy bills. Learn more here >>
Could this be the future for the Renewable Heat Incentive (RHI)?
Applications for the Renewable Heat Incentive (RHI) can only be completed by the homeowner after the commissioning of the heating solution, opposed to applying for a voucher prior installation. This will naturally stagger the flow of applications and avoid the surge seen for the GDHIF. DECC have also defined a budget management process, meaning tariffs for each technology will digress before the budget runs out.
If you wish to benefit from the higher tariffs of 18.8p/kWh for ground source heat pumps and 7.3p/kWh for air source heat pumps, we recommend you plan to install your ground or air source heat pump system sooner rather than later to avoid any potential tariff digression.