Green Deal Advisory Report
The Green Deal is UK government policy. It was given a ‘soft’ launch by the Department of Energy and Climate Change on 1 October 2012 to permit loans for energy saving measures for properties in Great Britain and was officially launched in January 2013. These measures were designed to enable consumers to benefit from energy efficient improvements to their home. The loans are repaid through energy bills and transfer with the property rather than those who took out the loan. This means new tenants or owners become liable for a debt they did not enter into, a novel concept in English law. Homeowners (or businesses) will be liable to repay the Green Deal charge, even if the promised saving on their energy bills does not materialize. The intention is that savings on energy bills will outweigh the cost of repayments. This is referred to by DECC as the golden rule. However, the so-called “Golden Rule” isn’t so much a rule as an aspiration. There are 45 different improvements covered by the Green Deal and Government estimates say that a typical three bedroom semi-detached house could save £270 a year from solid wall insulation.