Partner Article

Green Deal launched

The Government’s Green Deal has been launched, meaning householders will be offered long-term loans to help energy efficiency.

45 different improvements are currently available under the Green Deal, designed to improve the UK’s ageing housing stock which is said to be among the least efficient in the world.

Energy and Climate Change Secretary Edward Davey said: “More and more families are being hit by the rising cost of fuel bills and the best way people can protect themselves from increased costs is to use less energy. This is where the Green Deal comes in, giving people a whole new way to pay for energy saving home improvements.

“The Green Deal is a great deal. Improve the look and feel of your home, make it cosier and at the same time save energy – what’s not to like?”

Householders will be able to pay for improvements through loans from the Green Deal Finance Company, that are then paid back through electricity bills.

Green Deal Providers will quote householders for the recommended improvements, and a ‘Green Deal Plan’ will be made including the work to be carried out, and the fixed interest rate.

A statement from the Royal Institution of Chartered Surveyors (RICS) said: “We have worked closely with stakeholders in the property industry to develop guidance on the Green Deal.

“RICS welcomes this as an effective way for property professionals, landlords, tenants, buyers and sellers to understand how a Green Deal on a property interacts with various types of property transactions.”

Simon Roberts OBE, Chief Executive of the Centre for Sustainable Energy: “The Green Deal will succeed where people understand it and feel like it’s something for people like them in homes like theirs.

“That’s a fantastic opportunity for community groups to lead the way in engaging local people, sharing local experiences, and creating neighbourhoods where improving the energy efficiency of your home becomes normal. We’re delighted that DECC has supported our new toolkit to empower and enable community groups to get involved.”

Paul Davies, partner at PwC, commented: “It’s easy to get distracted by the headlines or expect too much too soon. The reality is this has the potential to be a truly transformational programme, kick starting a much needed upgrade of Britain’s housing stock, and help the economy on the way. It could also make one of the most significant contributions to our 2020 carbon reduction commitments.

“As this is a long term approach, I wouldn’t expect everyone to come flocking to the idea straight away. Many people will still wait until they can fit it around other home improvements or moving house.”

This was posted in Bdaily's Members' News section by Tom Keighley .