Green Deal funding has only been available for six weeks, but already the sums on offer to landlords and private home owners has already been slashed by the government. At the start of the scheme, people could apply for a maximum of £7,600 towards energy saving measures. However, despite the fact that the take-up was extremely high – £50 million of vouchers was claimed in the first few weeks – the Department of Energy & Climate (DECC) has reduced the amount of money households can claim.
NLA Critical of Government Funding Slashed
“Just as the Green Deal looks like it will finally succeed, the Government seems determined to sabotage its own policy,” says the National Landlords Association.
Solid wall insulation offers the biggest incentives. Solid wall insulation is mostly found in older properties, and with the biggest number of properties containing solid wall insulation in the private rental sector, landlords are going to lose out with the reduction of Green Deal funding.
Solid Wall Insulation in the Private Sector
“Lowering the incentive for solid wall insulation to £4000 will increase the contribution that the landlord will have to make, and inevitably push more projects beyond the capacity or willingness of the landlord to fund them as a result. As the greatest proportion of solid wall properties are in the private rented sector this move therefore risks exempting a significant proportion of homes from meeting the energy efficiency targets set by DECC.”
The NLA is advising all landlords with a draft Green Deal plan “to act immediately”. You have until the end of July 24th to claim your cash back.
