NEWS

Green Deal to Help Millions of Householders Install Insulation

5 March 2013

Eight million homes in the UK could benefit from Solid Wall Insulation, the Government announced today.

Speaking at the EcoBuild conference held at the ExCeL Exhibition Centre in London’s Docklands, Ed Davey, Secretary of State for Energy and Climate Change, revealed that eight million householders could cut their energy bill by insulating solid walls.

In addition, Davey reported that some six million householders would benefit from Loft Insulation and 5.5 million could save money by installing Cavity Wall Insulation.

The figures were announced as part of Climate Week, an initiative set up to better promote awareness of carbon reduction, energy efficiency and climate change.

The Department of Energy and Climate Change (DECC) – headed by Davey – was using Climate Week as a springboard to promote increased awareness of the Green Deal, the Government’s brand new scheme designed to make British homes more energy efficient.

The Green Deal allows householders to seek upfront financial assistance before making energy efficient home improvements.

Solid Wall Insulation, Loft Insulation and Cavity Wall Insulation are included on a list of more than 40 home improvement measures that are approved under the Green Deal.

It is estimated that up to 45% of heating passes through solid external walls. That figure represents the highest percentage of heating lost.

According to Government statistics, Cavity Wall Insulation, which is a fairly inexpensive and unobtrusive measure, can reduce heat lost through external walls by up to 35%, saving the householder an average of £135 annually on their fuel bill.

For households built before 1924, Solid Wall Insulation is required to reduce the amount of heating lost through exterior walls. Homes built after 1924 but before 1982 generally require Cavity Wall Insulation as this was not installed when they were built.

A further 25% of heating lost passes through a property’s roof. The Government is promoting Loft Insulation to reduce this figure. Loft Insulation is estimated to save a household up to £165 annually.

As part of the Green Deal scheme, grants and loans are available to make these changes. Householders on low income, or living in a geographical location where fuel poverty is generally higher, may be entitled to have all costs paid for via a grant. Those householders that do not meet the requirements set out to receive a grant can still apply for a Green Deal loan, which is repayable over a period of up to 25 years.

In addition to the finance options available, householders may also be entitled to cashback incentives. Those taking out Solid Wall Insulation can earn up to £650 cashback, while those installing Cavity Wall Insulation and Loft Insulation can claim £250 and £100 respectively. These payments are available to those taking out a Green Deal loan.

Davey went on to announce that the financial value of the Green Deal is projected to be in excess of £1billion by 2015.


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