Earn money by making your home greenerNew Green Deal Home Improvement Fund launching
05 June 2014
The new Green Deal Home Improvement Fund (GDHIF), an incentive scheme designed to replace the existing Green Deal cashback scheme, will launch this Monday 9 June 2014.
After the poor take-up of the old cashback scheme, the hope is that this new scheme will encourage more consumers to make their homes energy efficient.
The GDHIF seems to be an improvement on the existing Green Deal cashback scheme. You now have the chance to earn up to £7,600 by carrying out energy efficient improvements to your home, and there is up to £120 million of funding for this year available in England and Wales. A separate scheme called the Green Homes Cashback will apply in Scotland.
It should also be simpler. Previously, a Green Deal Assessment was needed to be eligible for the Green Deal cashback scheme, but now households can instead use a valid Energy Performance Certificate that is less than 24 months old to apply for GDHIF payments.
Our online guide to Green Deal cashback and incentives gives you more detail on the options. Before installing any energy efficient measures you will need to register online or by phone and apply for the relevant vouchers.
Green Deal Home Improvement Fund – how does it work?
Under the new scheme, households can earn up to £1,000 by installing two energy efficient measures from an approved list. Homebuyers can claim an extra £500 if they apply within 12 months of buying their property.
It’s also possible to claim up to 75% of the cost of installing solid wall insulation in your home, up to a maximum of £6,000.
If you have already had, or choose to have a Green Deal Assessment, which costs around £150, you can also apply to receive a £100 refund on your assessment. But this only applies if you install, or have already installed, any of the recommended energy efficient measures within 24 months of having the assessment.
What else is different about this incentive scheme?
Another difference is that you can now have either a certified Green Deal Provider or Green Deal Installer implement the energy efficient measures - in the past it could only be done by a Green Deal Provider. This means that there are more tradesmen to choose from when shopping around for the best deal.
Once you’ve applied for your GHDIF voucher, you need to have the measures installed within six months. You also don’t need to have taken out a Green Deal loan to be eligible, many different methods of financing the installation of the energy efficient measures will be accepted, such as using a credit card or self-financing.
For a more detailed explanation of the differences between the old and new incentive schemes, as well as the list of energy efficient measures that you can claim money back on, make sure you read our Which? Guide to the Green Deal.