Green Deal Funding
Under the Green Deal initiative, home-owners will be able to make their homes more energy efficient at no upfront cost as the improvements are paid for by savings made on the property’s energy bills.
Every British home and business will be able to install packages of energy saving technologies such as insulation at no upfront cost making their property warmer and cosier straight away, with repayments made over time out of the energy savings. Strict standards will be put in place to prevent consumers being ripped off by unscrupulous contractors.
A new requirement on energy companies to provide support with an estimated value of £1.3 billion a year to ensure everyone is able to benefit from the Green Deal – irrespective of income or type of house. Additional help will be available to ensure the fuel poor get better boilers while subsidies will be provided to tackle homes that are hard to insulate.
The Green Deal is expected to kick start around £14 billion of private sector investment over the next decade – with new safeguards to help small family firms as well as big high street names getting involved. The Green Deal could support 65,000 insulation and construction jobs by 2015.