The Green Home Finance Accelerator will provide up to £20 million grant funding to support the development, testing and piloting of new and innovative green finance products that encourage domestic energy efficiency and low carbon heating retrofit for homeowners.
At present, buildings account for 20% of emissions and an average household has an Energy Performance Certificate rating of D. As a result, the UK’s Department for Business, Energy & Industrial Strategy aims to have as many British households as possible to achieve Energy Performance Certificate C by 2035.
Minister for Business, Energy and Corporate Responsibility, Lord Callanan, said:
“Driving up the energy efficiency of homes won’t only reduce our impact on the climate, but will also help houses stay warmer for longer.”
“Green finance products will allow households with greater means to spread costs over time, empowering them to be able to invest in their properties, improving their energy efficiency and resale value.”
“Today’s funding will give more companies in the financial sector the opportunity to create and offer these products, and in so doing help households reap the benefits both in the investment to their properties, and in the savings they can make on their energy bills.”
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