The Government’s Green Deal is edging closer to its launch, and Chris Huhne, Energy and Climate Change Secretary, has been announcing some of their plans to help battle the rising costs of energy prices and improve energy efficiency.
The Green Deal is set to invest £14 billion over the next decade, supporting 65,000 new energy efficiency home improvements by 2015. It will also see £1.3 billion a year from energy companies helping vulnerable and hard-to insulate homes, with both of these investments concluding to a 7 or £94 reduction in energy bills.
Chris Huhne said that the £14bn investment into the private sector should help “insulate households from rising global energy prices and create thousands of job.” This sounds brilliant, especially in a struggling economy with rising bills and millions unemployed.
As part of Chris Huhne’s Annual Energy Statement, it claimed that home energy savings to householders will have no upfront cost and that on average, homes will be cheaper to light and heat in the future.
“The Green Deal is about putting energy consumers back in control of their bills and banishing Britain’s draughty homes to the history books. By stimulating billions of pounds of private sector investment, the Green Deal will revolutionise the way that we keep our homes warm, making them cosier, more efficient – and all at no upfront cost,” Chris Huhne said.
Image sourced from Flickr by DECCgovuk
The Energy and Climate Change secretary sees this as a massive business opportunity for companies, from small family run businesses to big supermarkets and DIY stores, all helping to give the consumer the best deal.
Under this new scheme every British home and business will have the ability to install energy saving technology with no upfront cost. The repayments are made over time with the energy savings made, whilst there will be a strict standard put in place to prevent cowboys cropping up.
Just to make the Green Deal that little more attractive to consumers, they are offering up to £150 cash back for homes who utilise the Green Deal.
The report also shows how the energy and climate change policies have impacted energy prices and bills. They predict electric bills by the end of this year will have increased by 16 and gas bills by 25, since the start of the year, although it is mainly due to the massive increase in global fossil fuel prices. Globally gas prices have increased by a phenomenal 40, which is a scary thought!
The report also states that only 7 of the average household bill is accounted for by Government policies, but by 2020 they hope to make the average household bill 7 cheaper. These government policies will help the most vulnerable heat their home, receiving extra assistance through Warm Home discount and other such schemes.
The Green Deal sounds promising, but how do you think it will pan out? Is it going to be a success?
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