Tens of thousands of homeowners could receive grants worth up to £15,000 to make their properties more energy efficient under a proposed new government scheme.
Ministers are allegedly consulting about setting aside £1 billion for a new ‘Eco Plus’ project which will fund loft insulation, cavity wall insulation and smart heating controls for middle-income households.
The scholarship is reportedly aimed at middle-income families who, unlike other programs, are able to pay.
It will be specifically set aside to cover 75 per cent of EE installation costs and could be worth up to £15,000 per household, according to The Times.
The newspaper also reported that the scheme could start next April and would likely cover homes in council tax bands A to D.
But a spokesperson for No10 today said they do not acknowledge claims of any new grants being dumped.
“It’s not something we acknowledge,” said the spokesperson.Read:Share tip: Renewi may turn muck into gold | Business
Insulation works by creating a thermal barrier that traps natural heat inside the home, keeping rooms warm and reducing the need to run heaters.
The Times estimates that installing overhead insulation could cost up to £1,100 – but would save £640 a year on energy bills.
Cavity wall insulation can cost up to £2,500 but will save you £525 a year.
Meanwhile, smart heating controls, including thermostats and thermostatic valves, would be £800 to install the savings could add up to £525 a year.
The plans echo the short-lived Green Homes Grant, which provided up to £10,000 towards the costs of installing heat pumps and insulation materials.
The scheme, which has been described by critics as “poorly designed”, “overly complex” and operating at a “slow pace”, saw just 52,000 households receive vouchers before it closed – despite there being 600,000 up for grabs.
For low-income Brits, help with gas and electricity bills will be available through the Energy Price Guarantee.Read:Is it time to invest in one of these dividend hero trusts?
Ministers set average annual bills at £2,500 until March 31 next year.
Since then, the cap has risen to £3,000, but there is additional help for Britons with benefits.
Hardship households who qualify for Universal Credit next year will get £900 towards the cost of living.
Pensioners will also get an extra £300 and there will be a £150 payment for Britons with Disabilities.