An Improved Renewable Heat Cashback Scheme for Homeowners
In a bid to make homes more energy efficient the Scottish Government has recently announced some improvements made to the renewable heat cashback scheme worth £4.5 million of increased funding.
Background on the Initiative
This initiative is for homeowners and is an extension of the Home Energy Loan scheme where it is possible to apply for interest-free loans for owners of residential premises who would like to invest in ensuring their home is more energy efficient.
There will be a total of £4.5 million allocated across the renewable heat cashback scheme initiative which will offer homeowners 75% cashback up to the value of £7,500 if they were to invest in renewable heat measures, as well as an improved 40% cashback for investment in energy-efficient measures up to the value of £6,000.
In terms of availability, the grants will be allocated until the end of the financial year of 2020/2021 – and on a first-come, first-served basis.
Why the Renewable Heat Cashback Scheme is Being Brought Forward?
Paul Wheelhouse who is the Energy Minister for Scotland noted that they felt this scheme was critical as part of the ongoing work to encourage and support homeowners to improve the energy efficiency in their homes, and to make a transition to renewable heat.
The Government has been taking increasing action in trying to reduce the number of emissions that come from heating buildings as well as building on a green economic recovery strategy post-COVID-19.
How to Apply for the Home Energy Scotland Loan?
Confirmation on applying for the increased cashback is still to be confirmed, however, you can apply for an interest-free loan if you are a homeowner looking to make energy efficiency improvements. The amount you can apply for will be dependent on the improvements you are making. Home Energy Scotland will give you an application form to fill in and would also be on hand for any ongoing support needed when processing your application.