Green Deal thinking revealed - Government launch consultation today!
Posted by Andrew Eagles on Wed, Nov 23, 2011
The consultation on the Green Deal was launched at 12:30pm today by Chris Huhne, Secretary of State for Energy and Climate Change. The scheme will drive £14bn of investment in energy efficiency measures.
Approximately 30% of the country's CO2 emissions come from homes with another 10% coming from buildings. The proposed Green Deal is expected to help protect property owners from rising energy bills.
Under the Green Deal businesses, landlords, and homeowners will be able to install packages of
energy saving technologies such as insulation at no upfront cost and repay the loan through a surcharge on energy bills over 25 years. The scheme centers on the concept of a golden rule - the idea that repayments have to be lower than the savings realised as a result of the energy efficiency measures, meaning participants in the scheme should end up better off.
There is concern that people will not want to to take on the hassle of improvements to their properties. Partly to rectify this DECC confirmed that up to £150 cash back could be available for homes taking part in the Green Deal.
A key point noted by Huhne is that the Green Deal also has the potential to create a great number of jobs and business opportunities. Over 65,000 insulation and construction jobs are expected by 2015. Huhne said. "The Green Deal is also a massive business opportunity. From one man bands and local authorities, to the big supermarkets and DIY stores, we want as many providers getting involved as possible".
Today it was also confirmed that the Energy Company Obligation (ECO) will provide £1.3bn a year to help upgrade low-income and hard-to-insulate homes. The consultation closes on 18 January 2012.
The consultation document (237 pages), draft statutory instruments and 18 related documents are now available.
Keepmoat, Parity Projects and Sustainable Homes have prepared a 10 page summary of the implications for affordable housing.
