In the Clean Growth Strategy (CGS), the government set out an aspiration for as many homes as possible to reach Energy Performance Certificate (EPC) Band C by 2035, and for all fuel poor homes to reach EPC C by 2030. The challenge is greatest in the owner-occupier sector, which accounts for 63% of homes and where over 75% of properties are below EPC band C. The availability of competitive green finance is crucial to changing this; investing in energy efficiency needs to be made both straightforward and desirable and this needs to be demonstrated to consumers.
The aim of the programme is to promote the establishment of green lending products for homeowner occupiers for energy performance improvements. To overcome the barrier to innovation posed by high initial development costs in an untapped green finance market, the programme will provide funding for the initial development and piloting of a limited number of green home finance products.
The 3 winning projects will develop different green finance products and will pilot them to incentivise energy efficiency retrofit in homes.
The competition is closed for new applications. Details of the competition’s aims and objectives can be found in the competition guidance.