The Green Deal UK aims to reduce CO2 emission and boost energy efficiency in the country. It has great potential to save large amount of money for householders and businesses, as well as to secure energy supplies for the future generation.
In December, 2010, the UK Government introduced the Energy Bill in the Parliament. The bill proposed ‘Green Deal’, that aims to revolutionise the energy efficiency in UK homes and businesses. The most ambitious energy efficiency drive in the UK to date, it enables private firms to offer green improvements to the residents and businesses at no upfront cost, and to recoup payments in instalments on the energy bill. The deal is an attempt by the UK Government to tackle the climate change and secure future energy supplies in the country.
The Green Deal is designed to encourage households and businesses in the UK to retrofit energy saving measures. The government has attempted to create a framework that allows selected private firms to provide energy saving measures to households and businesses without bringing additional costs to them. The policy makers consider it a long-term solution to energy related problems. It is expected to minimise the energy wastage, and help households and business-owners to save money when it comes to boost their energy efficiency. The Green Deal is the biggest ever shake-up in UK energy efficiency history.
Once it comes into force, the Green Deal will allow people to take out loans to improve the energy efficiency of their properties including insulation, heating and lighting. The loans which are to be attached to the property, will be paid back over a fixed period through the savings made on energy bills. As per the estimates, an average house will have 6000 of measures installed, that will be repaid in a time period of more than 25 years. The household will not be required to pay up-front installation cost. Since the repayment will be attached with the electricity meter, the scheme is open to all, without any inspection for credit history and employment status.
Under the Green Deal, people will be provided with financial support to improve the energy efficiency of their properties. Though the deal seems quite beneficial, government will have to take initiative to make it more effective. It’s needed to deliver the policies which encourage the public to take-up Green Deal. Additionally, the financial model must be attractive to the investors, i.e. the default risk should be minimum. In short, the government will have to establish a strong, recognisable Green Deal system that could create confidence and trust, both among potential consumers and service providers. However, the full detail could be available after the launch of Green Deal in 2012.
The Green Deal is open to all, homeowners, tenants, businessmen. If implemented properly, it will surely cut down the CO2 emission, and improve the energy efficiency in the country. If you’re also interested in this deal, and want to opt it, you can register your interest with a reputed company that provides this facility. Using Internet, you can find some reliable websites which help you apply for green deal. Considering your buying criteria, you can choose the best among them, and ensure a reduced energy bill and improved energy efficiency for your premise.