Grants For Housing And Energy Expenses
As we all know, taking care of our planet should be a top priority. One of the ways we can do this is by making our homes more eco-friendly. However, the upfront costs of making these changes can be daunting. Luckily, there are several housing and energy grants available in the UK that can help make these changes more affordable.
Green Homes Grant
The Green Homes Grant, introduced by the UK government in 2020, provides homeowners with vouchers worth up to £5,000 or £10,000 (for low-income households). These vouchers cover two-thirds of energy-efficient home improvements such as insulation, double glazing, and low-carbon heating systems. The grant is available to both homeowners and landlords and aims to reduce energy bills and carbon emissions.
The UK's largest energy suppliers fund the Energy Company Obligation (ECO). This grant provides free or heavily subsidised energy-efficient improvements to households struggling with energy bills. The ECO scheme provides insulation and heating improvements to low-income households, those living in fuel poverty, and those with health conditions worsened by living in a cold home.
Renewable Heat Incentive (RHI)
For homeowners looking to install renewable energy systems like solar panels or wind turbines, the Renewable Heat Incentive (RHI) is a great option. This scheme provides payments to homeowners and landlords who install renewable heating systems in their homes. Payments are made quarterly over seven years, with the amount received depending on the system installed, property size, and renewable heat generated.
Home Renovation Incentive (HRI)
The Home Renovation Incentive (HRI) is available to homeowners who want to make improvements to their homes but do not qualify for the above grants. This scheme provides tax relief on the cost of home improvements such as insulation, windows, and doors. The amount of tax relief provided depends on the cost of the improvements, with a maximum relief of €30,000.
These grants are designed to help homeowners make their homes more eco-friendly, reducing energy bills, and carbon emissions, and making homes more comfortable. If you're interested in making improvements to your home, it's worth looking into these grants to see if you're eligible.