NEWS

Hundreds of Green Deal Assessments Completed

28 February 2013

Hundreds of Green Deal assessments have already been carried out, according to the Government department responsible for the initiative.

The Department of Energy and Climate Change (DECC) announced this week that hundreds of Green Deal assessments had been conducted just a little more than a month after the scheme was launched.

Furthermore, DECC is reporting that thousands more are researching the scheme and its benefits. A spokesman for the department stated that more than 3,000 telephone calls and 10,000 website hits are being received on a weekly basis.

The Green Deal: An Overview

Launched on January 28, the Green Deal is a Government initiative geared towards assisting householders to make their property more energy efficient.

Under the scheme, householders can receive a loan for the upfront costs of a number of energy saving home improvements.

Improvements include: Solid Wall Insulation, Cavity Wall Insulation, Loft Insulation, Boiler Replacement, and Double Glazing.

The loan, and interest incurred, is repaid through the householder’s electricity bill. The scheme’s ‘Golden Rule’ states that the expected financial savings must be equal to or more than the sum to be repaid. In theory this means the householder will not be out of pocket.

The Government hopes that the scheme will result in more than 14 million homes being insulated by 2020.

Growing Initiative

Critics have been quick to point out that the current rate of uptake is fairly low. The Government however recognises that the Green Deal will have a long term appeal, particularly as energy prices will inevitably rise.

Alistair Buchanan, Chief Executive of Ofcom, reported last month that the closure of UK power plants could see the country become further reliant on foreign imports. The result will surely see fuel prices increase again.

Households can minimize the impact of these increasing costs by turning to Cavity Wall Insulation, Loft Insulation, and other energy-saving improvements.

Savings resulting from the installation of Loft Insulation have been estimated at £135 per year, while Cavity Wall Insulation can save another £135.

As the economic climate continues to trend downwards, certainly in respect to the cost of fuel, the Government is confident that householders will identify the money saving impact of improvements carried out under the banner of the Green Deal.

Awareness of the scheme is already on the rise, and a £2m advertising campaign is currently underway to further promote the initiative’s benefits.


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