The programme will be delivered across two phases:
Stage 1: Discovery Phase (Up to ~6 months)
Will support up to ~20 projects with low value grants. Applicants funded to undertake research aimed at acquiring the knowledge and skills for developing new, novel products and services and to produce robustly evidenced product pilot proposals.
Stage 2: Pilot Phase (Up to ~15 months) Will support up to ~15 projects with high value grants. Projects which successfully progress through Stage 1 will be funded to create and test their lending product(s) on the market.
The GHFA competition will open for Discovery Phase applications from early September 2022, closing at the end of October 2022. Discovery Phase projects are expected to start in January 2023. Organisations participating in the Discovery Phase will have an opportunity to apply for the Pilot Phase from July 2023. An indicative timeline of the programme is provided below:
The eligibility criteria is being developed and subject to change, however, we expect it to include the following:
- The fund is open to applicants from UK based finance and mortgage lenders with a retail presence (such as: banks, building societies and fintech organisations), and partner organisations (energy suppliers and smart data/analytics companies, energy efficiency/low-carbon heating installer organisations etc) that could deliver energy assessments, advice, and retrofit services.
- The project must be within the competition scope
- The project activities must be conducted within the UK
- The project must be led by a single organisation, (although bids from consortia with a single lead partner are welcome)
- Grant proposals should not exceed £200,000 per project for Discovery Phase and £2,000,000 per project for Pilot Phase.
- Project(s) funded need to demonstrate additionality and value for money. Grant funding will only be awarded to projects that deliver innovative new work and will not be available for funding retrospective activity.
Key stages of the competition
Market and stakeholders become aware of the GHFA, participate in webinars / events and feedback on the approach.
Interested organisations complete an online application for Discovery funding. (early Sep 22)
Applications are assessed by an expert panel against pre-defined eligibility and assessment criteria.
(end of Oct 22)
Pending due diligence checks, successful applicants will be issued with a grant offer.
Discovery phase begins
Grant Agreements are signed and project prepared for Discovery Phase Kick-off. (Dec 22/Jan 23)
Dissemination and knowledge sharing during and at the end of each phase will be a key requirement of GFHA. Applicants will be expected to share useful data, lessons learned and experience through relevant industry forums and with the GHFA team.
The GHFA is being delivered by PwC UK on behalf of BEIS. PwC with support from the Carbon Trust will lead market engagement, manage the competition process, monitor project performance and capture / share learnings from the projects. BEIS will have ultimate decision making on grant awards and distribute payments.
This website will provide the latest information and guidance for the competition. Full guidance will be available following the launch of the competition and will provide detailed information covering all steps in the application process. Event / Webinar recordings (including the recent market engagement event) and regularly updated FAQs will also be posted on this site on an ongoing basis. Please visit our Resources page for all the latest materials. Future opportunities to engage with the GHFA We are currently considering a series of opportunities for potential applicants to get involved in. We are planning to run webinars, and are exploring the option for ‘drop-in’ clinics before and post competition launch to help applicants understand the application process (e.g. application portal). In addition, we are reviewing potential matchmaking events to support collaboration between partners. Please watch this space for further information on these events.
The Green Home Finance Accelerator is being supported by PwC and the Carbon Trust.