£600 Million Approved For UK’s ‘Green Deal’ Energy Efficiency Program

The Green Deal is an innovative financing mechanism that lets people pay for energy-efficiency improvements through savings on their energy bills. £600 million of public support for the UK’s ‘Green Deal’ energy efficiency program was recently approved by the European Union.

The Green Deal is a program designed to make investing in energy efficiency improvements, such as

• insulation - eg loft or cavity wall insulation
• heating hot water efficiency, modern boilers, etc,
• draught-proofing
• double glazing
• renewable energy technologies - eg solar panels or wind turbines

The loans are then repaid through energy bills, and transfer with the property, rather than the person who took out the loan.

“The UK Green Deal allows consumers and businesses to improve the energy efficiency of their buildings without making huge upfront investments,” EU Competition Commissioner Joaquin Almunia said in a statement.

What you need to do

1. Get an assessment of your property to see what improvements you can make and how much you could save on your energy bills.
   
2. Choose a Green Deal provider to carry out the work. You discuss with them what work you want done and whether the Green Deal is right for you.
   
3. If you go ahead with the improvements you must sign your Green Deal Plan - this is a contract between you and the provider stating what work will be done and how much it will cost. The provider will then arrange for a Green Deal installer to do the work.
   
4. Once the work is done, you’ll pay off the money in installments through your electricity bill.
   

The EU Commission works as a regulator for the members of the European Union, deciding matters to do with state aid and competition. According to the commission, the program is a well designed effort to improve efficiency in the UK.

For Details of Green Deal See post Green Deal : An Innovative Financing Mechanism for Energy Efficiency Improvements