Plans for Green Deal Unveiled

Energy Efficiency News - 20th August 2010

Speaking yesterday at the launch of a support project for renewable energy businesses, Deputy PM Nick Clegg outlined plans for a new Green Deal aimed at reducing energy demand and carbon emissions while making homes warmer, saving consumers money and stimulating jobs.

The Deal will enable householders and businesses to install energy efficiency measures, such as insulation, which will be funded through a system of low-interest loans. It is hoped that Green Deal customers will then be able to repay the cost of installation work through savings on their energy bills.

A summary of the Green Deal, published by the department of energy and climate change, predicts that the scheme will provide insulation to over 3.5 million households, with a projected £8.65 billion benefit for society. It is approximated estimated that the most energy-inefficient homes which are currently most energy-inefficient could save around £550 annually through these improvements. Legislation for the scheme is timetable for later this year, with the Deal expected to take effect during 2012.