The Government has launched a new fund to boost the choice of affordable green finance products for homeowners to help them reduce energy consumption.

The Green Home Finance Accelerator will provide grant funding to support UK finance providers and other organisations to design, develop and pilot a diverse range of innovative finance propositions which encourage domestic energy efficiency and low carbon heating retrofit.

A total of £20 million of funding will be split between a Discovery and Pilot Phase:

• The maximum amount that can be awarded across all projects will be capped at £4 million for the Discovery Phase.
• The total requested grant for each Discovery Phase application must be at least £50,000 and must not exceed £200,000.
• The maximum amount of grant funding which can be awarded to each Pilot Phase project must be at least £200,000 and must not exceed £2 million.

Proposals are invited from UK green finance lenders, including banks, building societies and the wider finance industry. Consortiums of different partners (for example a lender and an energy efficiency supplier, installer or advice provider) are encouraged.

The competition is open for Discovery Phase applications until 14 December 2022.

Organisations participating in the Discovery Phase will also have an opportunity to apply for the Pilot Phase which is expected to start in September 2023.

How To Apply

The GHFA competition opened for Discovery Phase applications on 18 October 2022 and will close at 12:00pm (noon) on 14 December 2022.

Organisations participating in the Discovery Phase will also have an opportunity to apply for the Pilot Phase which is expected to start in September 2023.

Further information is available from the GOV.UK website.