In a bid to encourage nationwide energy efficiency, the government has announced £125 million in cashback to households in England and Wales who make energy saving home improvements.
Funding will come from the Green Deal, which comes into effect as of January next year.
Households participating in the programme, entitled the Green Deal Cashback Scheme, could receive as much as £1,000 on efficiency improvements such as insulation.
The scheme is on a strict first-come first-served basis so households are encouraged to take up the initiative sooner rather than later. In order to participate, homeowners must have a Green Deal assessment carried out.
Energy Secretary Edward Davey commented: "The Green Deal will provide unprecedented choice for consumers wanting to improve their homes and make them more energy efficient."
Mr Davey outlined the fact that the more work households have done, the more cash they will receive, whilst also benefitting from reduced energy bills thanks to increased energy efficiency. "It really is a great deal", he added.
Funding is not strictly reserved for domestic energy efficiency projects and it is hoped that companies all over the country will also take advantage of this scheme
"The Green Deal also presents a great opportunity for businesses of all sizes to take advantage of this transforming market – and now is a critical time. Whatever your business does in this sector, the Green Deal will have an impact. So I say to businesses large and small – gear up, get training and get ready to take advantage of the Green Deal," said Mr Davey.
Private and social landlords are also eligible to apply for the scheme if they are the property improver and are paying the costs themselves.
"The best offers are available first, so people should act fast once the scheme opens in January because cash back rates may reduce after that," DECC said in a statement.
The options for making a home more energy efficient are numerous – better loft insulation, double glazing and the installation of solar panels could reduce your energy usage by up to 50 per cent.