Funding announced for green finance products to improve energy efficiency at home

The government has announced a fund to help homeowners reduced energy consumption by providing green finance products.

The support will help banks, building societies and the finance industry to provide more green finance products for homeowners. The products will be designed for those looking to improve the energy efficiency of their property.

The support is intended to help homeowners spend less on energy and ensure as many homes as possible are EPC band V by 2035.

Up to £20 million is to be made available through the Green Home Finance Accelerator for lenders and other organisations to develop new lending products which provide upfront and affordable capital to help make homes more comfortable, cheaper to run and with lower carbon footprints.

Minister for Business, Energy and Corporate Responsibility, Lord Callanan, said: "Driving up the energy efficiency of homes won’t only reduce our impact on the climate, but will also help houses stay warmer for longer.

"Green finance products will allow households with greater means to spread costs over time, empowering them to be able to invest in their properties, improving their energy efficiency and resale value.

"Today’s funding will give more companies in the financial sector the opportunity to create and offer these products, and in so doing help households reap the benefits both in the investment to their properties, and in the savings they can make on their energy bills."