Builders must sign up for a government-backed seal of approval to take part in the new £2bn green home retrofit grants going live at the end of September.

It is hoped the initiative will generate 100,000 new jobs as over 600,000 households in England are expected to take up the vouchers, worth up to £5,000, to install insulation, heat pumps, draft proofing.

The chancellor Rishi Sunak said: “This is a vital part of our plan for jobs as we secure the UK’s economic recovery from coronavirus. This is going to be a green recovery with concern for our environment at its heart.

“It will help to protect and create jobs, while also saving people money and cutting carbon.”

Tradespeople must register for TrustMark or Microgeneration Certification Scheme (MCS)  to take part in the scheme.

Quality is paramount

TrustMark chief executive Simon Ayers said: “Consumer confidence is not only essential to the recovery of the UK’s economy, but also to the protection and creation of key jobs that will support the long-term delivery of quality green home improvements.”

Consumers will be able to choose from approved tradespeople in their areas to carry out the work.

Households on a low income can receive vouchers covering 100 percent of the cost of the improvements, up to a maximum of £10,000.

It’s estimated insulation of walls, floors, and roofs, low-carbon heating, such as heat pumps or solar thermal could help families save up to £600 a year on their energy bills.

Federation of Master Builders chief executive Brian Berry said the green homes grants would be a boost for the building industry.

“The vouchers will be a significant benefit to households wanting to make their homes more energy-efficient and reduce their bills, whilst providing much-needed work for accredited installers at this difficult time.”

Later this month, homeowners will be able to access advice on improving energy efficiency from the Simple Energy Advice (SEA) service. SEA will suggest appropriate home improvements that qualify for funding support.

 

Brokers Hank Zarihs Associates said property development lenders could offer a range of finance packages to support builders keen to expand into green refurbishments.

A report by the Energy Efficiency Infrastructure Group suggests decarbonizing the UK’s housing stock could create around 100,000 jobs annually over the next decade.

Housing secretary Robert Jenrick announced nearly £1.3 bn investment in infrastructure for over 300 shovel-ready projects today.

Successful schemes include £23m for phase 1 of the development of commercial space at Mayfield Park in Greater Manchester and £12m to support a new high-speed railway station in Thanet, Kent. Nearly £15 m was earmarked for the National Brownfield Land Institute aimed at supporting sustainable construction.

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Shiraz Khan
Shiraz Khan is the author of the following content. Shiraz is the managing director and founder of Hank Zarihs Associates, with over 16 plus years of experience in fnance, Hank Zarihs Associates are master brokers within the finance industry. We specialsie in a wide variety of short term funding products.