The Green Homes Grant Scheme was designed to help homeowners and landlords improve the energy efficiency of their property. However, after the announcement earlier in April that applications are now closed, there is a real need for an alternative plan from Government to help support the drive to cut UK carbon emissions.
Inefficient energy efficiency Scheme
Since its launch last September 2020, the Scheme attracted a total of 113,700 applications, with 10,300 measures installed but only 6,700 homes receiving the money from the Scheme so far—way off the original target of 600,000 homes.
The Scheme was publicised as a key component of the Government’s Build Back Better plan for investment to help the UK achieve its transition to net zero. However, last month the environmental audit committee of MPs warned of its poor administration and risk of failure.
With the disappointing end to the Scheme, it leaves the UK without a plan for tackling greenhouse gas emissions within the property sector.
Propertymark’s call for a long-term financial plan
After the announcement that the Green Homes Grant Scheme would be cut short, we argued that there needs to be a long-term financial plan to help support homeowners and landlords with energy efficiency and combating climate change.
The data released this week further highlights this crucial necessity and shows that while there is an appetite from property owners to make these improvements, it needs to be backed up by sufficient funding and a well-thought-out strategy.
Without providing landlords and homeowners with incentives and access to sustained funding, it is unlikely that energy efficiency targets for the private rented sector and a reduction in emissions will be met. We are hopeful for a new solution to be on the horizon and would encourage cross-departmental working to analyse the Scheme's shortcomings and introduce something more fit for purpose.
