UK Government has announced today the start of its £125 million ($196 million) program, aimed at giving british homeowners an incentive to make some energy saving improvements. Under the terms of the Green Deal initiative, participants should be able to reduce their energy bills and even get some of the invested money back through a special “cashback” scheme. With buildings in Britain being among the least efficient in the world, the Green Deal is expected to save up to £270 ($423) per year (for a typical three bedroom house).
There are 45 different types of improvements currently available under the Green Deal, helping people warm up their homes and pay for some or all of the improvements over time through their electricity bill.
From today households in England and Wales who use the Green Deal to make energy saving home improvements will also qualify for hundreds of pounds of cashback from the Green Deal Cashback Scheme. The more work households decide to have done, the more cash they could receive and packages could be worth over £1,000.
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 is a success story—it is the sixth largest in the world and has a crucial part to play in building a strong economy. The Green Deal will support thousands of jobs—not just over the next few years, but in the long-term.”
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.”
Energy and Climate Change Minister Greg Barker said: “The Green Deal will transform the energy efficiency market and puts consumers in charge. It’s a fantastic new scheme that will allow people to make their homes warmer and save energy at the same time. And it’s not just consumers who will benefit. The Green Deal is also great for business, creating a new market and new jobs. I’m truly excited about the potential the Green Deal has to transform Britain’s buildings.”
Green Deal in numbers[list] [li type=”icon-caret-right”]£125 million is available in the Government funded Cashback Scheme[/li] [li type=”icon-caret-right”]8 million households could benefit from solid wall insulation[/li] [li type=”icon-caret-right”]4 million households could benefit from cavity insulation[/li] [li type=”icon-caret-right”]60,000 jobs are expected to be supported in the insulation sector alone by 2015 – up from 26,000 in 2011[/li] [li type=”icon-caret-right”]£3.5 million of funding to training in key Green Deal skills[/li] [li type=”icon-caret-right”]£270 a year could be saved if a typical three bedroom semi-detached house installed just solid wall insulation[/li] [li type=”icon-caret-right”]38% of the UK’s total greenhouse gas emissions come from leaky buildings[/li] [/list]
Photo by Mike Spasoff