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The "Green Deal" is due to be unveiled today and will allow households across the country to reap the benefits of roof insulation, double glazing and draught proofing. Some could even get money to install water-efficient taps, new light fittings and energy-efficient boilers.
Not only will the plan reduce the cost of utility bills for homeowners and add value to their properties, the Government claims the plan will give the economy a much-needed boost and could create up to 70,000 new jobs.
Some 14 million homes could benefit from the scheme, in which houses where energy efficiency can be greatly improved will qualify.
Those that do will face no up-front costs for the improvements as utility companies, retailers and charities sent to identify the savings would bear the costs initially.
Homeowners would then make small repayments via their electricity and heating bills over the course of 25 years.
Environment minister Greg Barker told the Daily Mail: "The Coalition is aiming to complete energy improvements to 14 million homes by 2020, driving down the cost of family energy bills, protecting consumers against future price rises and making British homes not only greener but warmer and cosier too."
Since it was reported just yesterday that energy bills are set to soar once again, there are likely to be plenty of applicants.
What do you think? Will you take advantage of the Green Deal? Leave a comment below...