BPF welcomes additional energy efficiency funding

BPF welcomes additional energy efficiency funding

The British Property Federation (BPF) has today welcomed the second release of Green Deal Home Improvement funding but encourages the Government to implement longer term solutions to tackle carbon emissions in the built environment. 

The £30m of funding announced today constitutes the second release of funding under the Green Deal Home Improvement Fund (GDHIF) following on its initial launch in July. Up to £30m in funding will be available in this round, with £24m reserved to help fund solid wall installation and up to £6m for two separate energy efficiency measures from an approved list.

The BPF welcomes the more robust application process compared to the summer release, and is supportive of the Government’s efforts to remove barriers to accessing financing for energy efficiency. The BPF does, however, remain concerned that with Minimum Energy Efficiency Standards supposedly set to be introduced for the Private Rented Sector (PRS) in April 2018, none of the long term financing options for energy efficiency are hitting their straps.

The BPF has called on the Government to extend the Landlord Energy Saving Allowance (LESA) – a £1,500 tax rebate for energy efficiency improvements beyond its current April 2015 deadline, to give the industry support in the run up to the April 2018 regulations.

Ian Fletcher, Director of Policy (Real Estate) at the British Property Federation, stated: “Although the Green Deal has seen a recent resurgence, there is still much to be done to make it a more attractive proposition for consumers. Today’s launch is a shot in the arm for energy efficiency but sporadic releases of funding will not bring about the sea change necessary for this country to meet its carbon emissions reduction targets. Long term reliable funding is crucial to these efforts, and we were disappointed to see no extension of the LESA in the Chancellors’ Autumn Statement. Since 1996 the PRS has increased its average energy efficiency score at a higher rate than any other housing sector and we look forward to working with Government to maintain this momentum.”

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