Businesses and households can now take advantage of the government’s Green Deal scheme.
The government’s new initiative to make the UK more energy efficient has been launched today.
The Green Deal enables businesses and households to make energy efficiency upgrades at no upfront cost.
How Green Deal Works:
Following an assessment by an accredited Green Deal assessor the scheme enables a business to apply for a loan to pay for energy-efficiency upgrades, which are then paid back through the business’ electricity bill.
Deputy Prime Minister Nick Clegg said:
“The Green Deal will help thousands of homes stay warm for less. Those people will benefit from energy saving improvements – and their energy bills will fall.”
The UK green sector has been held up as a success story – it is the sixth largest in the world and the government believes it has a crucial part to play in building a strong economy. Within this the Green Deal is expected to play a key role.
Clegg said
“The Green Deal will support thousands of jobs – not just over the next few years, but in the long-term.”
The Green Deal isn’t universally popular however. Since it was first announced the it has been widely debated, with detractors questioning whether it provides good value for money. Reports have suggested that only 1 in 5 people in the UK have actually heard of it and many have criticised the interest rate that is attached to the loan as being excessive.
The question now is will the grand ambitions of the Green Deal come to fruition or will it be another environmental white elephant? Only time and take-up will tell.