The government’s new cashback scheme, designed to incentivise early uptake of the Green Deal, will be available from 28 January 2013.
The scheme will provide funding packages which could be worth more than £1,000 per household, with total funding of up to £125m earmarked for the scheme as a whole.
Energy secretary Ed Davey, commenting on this latest initiative, said: “The Green Deal will provide unprecedented choice for consumers wanting to improve their homes and make them more energy efficient.
“This cashback offer will help get the Green Deal off to a flying start. It really is a great offer – the more work households have done, the more energy they stand to save and the more cash they receive.”
Mr Davey added: “The Green Deal also presents a great opportunity for businesses of all sizes to take advantage of this transforming market – and now is a critical time.
“Whatever your business does in this sector, the Green Deal will have an impact. So I say to businesses large and small – gear up, get training and get ready to take advantage of the Green Deal.”
Welcoming this initiative, NAPIT sales and marketing director Andy Sharp said: “This announcement from the DECC can only galvanise confidence and enhance the opportunities presented by Green Deal for both homeowners and businesses across the UK.
“This latest cashback incentive is expected to increase early uptake and encourage more SMEs to invest in the ever growing energy efficiency sector.
“We encourage all our registered installers to take note of initiatives like this and seize opportunity to make the most of the early rush they could create when Green Deal kicks off in January.”
This first-come first-served, introductory offer will allow householders to claim cashback on energy-saving home improvements – from insulation to solar PV and under floor heating – under the remit of the government’s flagship policy.
As this initiative is separate and additional to any similar offers that may be made by Green Deal providers, homeowners could also expect to reap the cumulative befits of multiple incentives, in addition to the Green Deal financial framework.
The DECC has stated that cashback rates will be guaranteed for the first £40m, after which the rates are likely to reduce. They have therefore advised homeowners to act early to get the best rates.
The Green Deal Cashback Scheme should see authorised installers and assessors benefit from increased consumer interest and awareness.
All businesses involved in the Green Deal will be able to take advantage of this added incentive in order to attract new customers and kick-start their business.
Full details of the Green Deal cashback scheme will be available in the New Year.