The electrical industry could see a massive benefit from the Green Homes Grant scheme, as it has been revealed that more than half of homeowners in England are planning to take advantage of the Government’s scheme.
According to research by comparison website Moneysupermarket, 51% of English homeowners are already planning on applying for the Green Homes Grant scheme, when it goes live in September. A further 26% of households said they are considering it.
The research surveyed 2,000 homeowners, with the vast majority keen on taking advantage of the scheme. That means electricians may see an uptick in demand thanks to the scheme, as homeowners clamour to take advantage of it before Government cash runs out.
Why are consumers so keen to take advantage of the Green Homes Grant scheme?
We have already explained at length about how the Green Homes Grant scheme affects the UK electrical industry, although it seems that consumers are also recognising the benefits of the scheme. That’s because it has the potential of saving homeowners up to £300 a year on bills by making key energy efficiency upgrades to their home.
The average household in England will be able to apply for a voucher to cover two thirds of the cost of energy efficiency upgrades to their homes, up to a maximum of £5,000. Poorer households will see an even greater benefit, as they’ll receive 100% coverage, up to a maximum of £10,000.
Of course these upgrades could include any number of energy efficiency upgrades, from more efficient lighting to the installation of heat pumps. Moneysupermarket didn’t ask its survey respondents what work they planned on getting done through the scheme, although the installation of energy efficient lighting is already one of the best ways to save money, as lighting is said to account for as much as 17% of a typical household’s electricity bill.
Unfortunately, the scheme isn’t available to households in Scotland, Wales and Northern Ireland.