How to cash in with an eco-friendly makeover
As the Chancellor promises green grants up to £10k
HOUSEHOLDS have been promised up to £10,000 in government cash to make their homes more energy-efficient.
The Green Home Grants are expected to save 600,000 households £300 on annual energy bills.
Chancellor Rishi Sunak is yet to announce details of the initiative, but experts say work could include loft and wall insulation, double and triple glazing, and eco-friendly heating systems.
The lowest-income households will be able to claim for the full cost of work up to £10,000. Others should get at least two-thirds off the bill, but no more than £5,000 per household. A quote from an accredited supplier for the work must be obtained before applying.
Experts are hoping the scheme will be a better use of government money than the Green Deal launched in 2013 that promised solar panels, insulation and new eco-boilers at no upfront cost.
Many who signed up were left to pay off high-cost loans that outstripped any savings on energy bills. The multi-million pound scheme was abandoned after just two years.
Ahead of the new initiative, set to start in England in September, Money Mail pinpoints home improvements that could help you save on bills — even if you can’t get the grant.
BEGIN AT THE TOP
INSULATING your roof space is probably the most cost-effective measure. loft insulation should last 40 years and pay for itself several times over.
Material such as wool or glass fibre is laid, which stops heat escaping through the roof.
Insulating a semi- detached house this way usually costs £300, according to the Energy Saving Trust, and could cut £160 annually from the average family’s energy bills. Under the new scheme, it could cost only £100.
FILL IN THE GAPS
ABOUT a third of heat lost in uninsulated homes escapes through the walls. Most properties built from the 1990s onwards should already have insulated walls. However, homes built between the 1920s and 1990s may have cavity walls.
Cavity wall insulation is installed by drilling holes in the outside walls before materials, such as mineral wool, are injected through them. It costs about £475, or £158 with a grant, and can save £165 a year on bills.
BOIL COSTS DOWN
TRADITIONAL gas boilers could soon be banned under plans to tackle climate change. Experts recommend homes are fitted with a heat pump instead.
The systems absorb heat from outside and transfer it into water. It can cost £9,000-£11,000, or £3,000-£3,667 with a grant. Yet a heat pump could take £690 off an annual energy bill.
Meanwhile, a modern — and more energy efficient — gas boiler could cost £2,300, or £766 with a grant. The most efficient boilers can save you £110 a year.
GLAZE OVER
INSTALLING double- glazed windows throughout your home could cost £4,250, or £1,417 if you’re eligible for a grant. However, they can wipe £85 off your annual energy bill.
Double glazing not only traps heat in homes, but also keeps noise out. Windows can also be triple glazed.
SWAP TO SOLAR
SOLAR panels, which cost £4,800 to install on average, capture the sun’s energy and convert it into electricity.
They allow you to generate renewable energy, but how much depends on where you live, the angle of your roof and the amount of sunlight it gets. Savings can vary widely. but a homeowner in london could knock between £100 and £240 a year off their bills. Panel owners can also make money by selling excess energy to their supplier.
For a more accurate savings estimate for your own home, visit www.pvfitcalculator.energysavingtrust.org.uk
SMALL SAVINGS
YOU don’t have to pay for costly home renovations to save cash and be more eco-friendly.
Replacing a traditional halogen light bulb with an LED light will cost £6 — but should save you about £2 a year.
If you don’t have the cash for insulation, you could buy a hot water tank jacket for £15 and save in the region of £20 a year.
You could also spend about £19 on a chimney draught excluder and cut £15 off your annual bills.