It shut down because all this years money was spent here is my comments form the sister forum:
1) on the 22nd they announced a drop in the incentives to be giving for items like external wall insulation from £6000 to £4000 at the same time they also announced that they would shortly drop FGHR from the scheme as well.
2) They announce the reduction and then 44% of all the applications come in less than 2 days, so that the budget is now 100% spent. They had "spent" £50m up to the 22nd becasue of they way they announced it, by the 24th they had "spent" £120m (for spent read committed / vouchers issued which could add up to the value of)
This is worse that the FiT cut fiasco of November 2011.
Table 1: Green Deal Home Improvement Fund (GDHIF) applications received, vouchers issued, and total potential value of vouchers issued, ***ulative total by week
| Week[SUP]4 [/SUP] | Applications received[SUP]1[/SUP] | Fund allocation[SUP]7 [/SUP] | Vouchers issued[SUP]2, 5[/SUP] | Total potential value of vouchers issued[SUP]3, 5[/SUP] |
| 16th June 2014 | 1,736 | | 431 | £2,612,900 |
| 23rd June 2014 | 2,821 | | 1,415 | £8,514,800 |
| 30th June 2014 | 4,490 | | 2,786 | £16,547,800 |
| 7th July 2014 | 6,645 | | 4,405 | £25,136,800 |
| 14th July 2014 | 9,559 | | 6,607 | £36,484,100 |
| 21st July 2014 | 12,220 | | 7,925 | £43,508,100 |
| 24th July 2014[SUP]6[/SUP] | 21,683 | £118,269,300 | 9,357 | £50,425,200 |
1The number of applications received by the GDHIF Administrator.
2Vouchers issued is the number of applications which have been accepted by the GDHIF Administrator, and a GDHIF voucher has been issued as a result.
3Total potential value of vouchers issued is the maximum amount of money that could be paid out under the vouchers issued to date.
4Covering the period up to the end of date reported.
5 Vouchers Issued and Total Potential Value of Vouchers Issued does not include any payments redeemed by customers, about to be paid to customers or payments at the start of the redemption process.
6 Figures as of 6.30pm when GDHIF closed to new applications
7 Total maximum potential value of vouchers issued, pending applications still to be processed, payments redeemed by customers, payments about to be made to customers and payments at the start of the redemption process
Almost all of that will go to the big players who had already carried out EPC's and GDAR's for landlords with multiple properties, with the announcement all the big players e.g Mark Group will have had rooms of people banging in the applications on behalf of the landlords and tennants.
We were literally hours away from investing £80k in a 6 month project to support the opportunities raised by the GDHIF, just glad it happened when it did not a month later, else we'd be £80k worse off...
