43% of the UK’s greenhouse gas emissions stem from energy inefficient buildings.
The Green Deal will allow residents to pay for the installation of energy efficiency measures in their homes at no upfront cost. Capital costs will be met by businesses, to be recouped using the expected savings from energy bills generated by the new energy efficiency measures. The Green Deal's 'Golden Rule' dictates that estimated energy savings will always meet or exceed the cost of the work. The proposed Energy Company Obligation (ECO) - a subsidy from energy suppliers - will focus on supporting energy efficiency measures for those on lower incomes and in "hard to treat" properties.
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The government anticipates that the schemes will lead to an additional 34,000 jobs being created in the insulation sector alone over the next three years.
These announcements came as the Department of Energy and Climate Change (DECC) hpublished its response to the recent Green Deal and Energy Company Obligation (ECO) consultation.
Key messages from the 600 consultation responses included increased consumer protection, restriction on cold calling, specific support for low income and rural areas, and accredited certification bodies being able to register with the Green Deal Registration and Oversight Body from August.
(NE)
