The UK Government is set to release £16 million in grants for households
in order to improve their energy efficiency.

 The £16 million of funding is part of the UK Government’s Department for Energy Security and Net Zero’s plan to help households to increase their energy efficiency, that will save homeowners money.

The £16 million will be released as several grants that will encourage and support new projects that are innovative, sustainable, and promote energy efficiency.

The GHFA, also known as the Green Home Finance Accelerator, is the Department for Energy Security and Net Zero’s programme that was launched in order to run a competition for the grants for projects that are involved developing green finance products that could help households become more energy efficient.

The overall aim of this programme was to encourage the acceleration of the green finance market in order to support the establishment of a range of products that will improve energy efficiency for homes in the UK.

Energy Efficiency

Lord Callanan, the UK Government’s Minister for Energy Efficiency and Green Finance stated that:

“We are always looking to test progressive ways to make
energy saving measures more accessible and affordable, allowing
people to make their homes greener and warmer.”

Under the GHFA programme, 12 projects have been selected to benefit from the £16 million grant for energy efficiency. Each of these projects have been selected to help households access funding that will increase how efficient their homes are.

The projects that have been selected now have the opportunities and funding to implement their energy efficient products in UK households. Therefore, there is a chance for those in charge of these projects to test their products in a home environment to make improvements that will increase their products energy efficiency if necessary.

The projects that have been selected have been promised that they will benefit from this funding up until 2025.

The projects that have been selected include:

Chameleon Technology:
Designers and manufacturers of Smart In-Home Displays –
This company will receive £795,000 of the UK Government’s grant to fund their HTC-Up project.
This project has been put into place to help landlords and homeowners benefit from green loans
and cashback rewards that are tailored to them.

E.ON:
Multinational electric utility company –
E.ON will receive £1 million in funding from the UK Government to launch a new project
that will give homeowners advice and funding regarding energy. One of the companies aims is
to make around 350 homes low carbon to increase their energy efficiency. They wish to do
this through technologies that are low carbon, this includes installing heat pumps, solar batteries,
and solar panels.

Perenna:
Mortgage lender –
They will receive £888,000 in grant funding from the UK Government. This funding will
be used to develop a ‘green mortgage’ that will benefit homeowners in the long term, due to its
fixed rate. The new ‘green mortgage’ will act as an incentive to encourage homeowners to
increase their energy efficiency in return for a lower mortgage rate.

Scroll Finance Limited:
Fintech lender –
This company will receive £1.5 million of funding from the UK Government’s grant.
This will fund their Glocers Project, which will help to supply loans that will help to cover the
upfront costs of any measures that will increase a home’s energy efficiency.

Sunsave:
Solar energy company –
Their electric roof project is expected to receive £1.9 million of the UK Government’s
funding. Their main aim is to make the installation of solar panels on roofs easier.

Regarding these selected targets, including those above and seven further projects, Emma Harvey-Smith, the Programme Director at the Green Finance Institute, stated that:

 

“Developing and piloting new green finance mechanisms to ensure
they successfully support as wide a range of customers as possible, and
unlock barriers to retrofit, will enable more energy efficiency home upgrades
at pace and scale.”