Households could receive up to £15.000 grants to boost the energy efficiency credentials of their homes.

The government is set to announce a new £1 billion ‘eco plus’ fund to subsidise part of the upgrade cost for household energy-saving measures.

The grants given will reportedly cover 75% of any upgrade cost.

According to the Times, the plan will see eligible households able to fund the installation of loft and cavity wall insulation as well as smart heating systems, including advanced thermostats and thermostatic valves.

The paper suggests the funding will be made available from April next year and for the next three years – the money will be administered by energy suppliers as ministers consider prioritising those in council tax bands A to C.

The new fund, which will reportedly be announced by Business Secretary Grant Shapps, will help around 70,000 homes.

A government spokesperson told ELN: “Everyone has different energy needs and will make their own decisions about the energy they use, but we recognise that people may be interested to learn more about how they can further cut their bills.

“Our existing public information campaign, Help for Households, is driving up the public’s awareness of all the support available to help them with the cost of living, including saving money on energy bills. We continue to look at ways to further promote energy savings.”