The programme is being delivered across two phases:
Stage 1: Discovery Phase (Up to ~6 months)
Will support approximately 25 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 opened for Discovery Phase applications on 18 October 2022 and closed on 14 December 2022. Successful Discovery Phase projects are expected to start in late March 2023. Details of Discovery Phase projects will be announced shortly thereafter.
Organisations participating in the Discovery Phase will also have an opportunity to apply for the Pilot Phase which is expected to start in December 2023.
An indicative timeline of the programme is provided below:
Details of the competition’s aims and objectives can be found in the competition guidance.
Key stages of the Disovery Phase 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 Phase funding. (by 12:00pm noon 14 December)
Applications are assessed by an expert panel against pre-defined eligibility and assessment criteria.
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. (Mar 2023)
The GHFA is being delivered by PwC UK on behalf of the Department for Energy Security and Net Zero. 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. The Department for Energy Security and Net Zero has ultimate decision making on grant awards and will distribute payments.
The Green Home Finance Accelerator is being supported by PwC and the Carbon Trust.