The coalition’s flagship energy scheme will allow houses across England and Wales to install energy efficiency measures for no upfront cost. The measures are paid for by savings on utility bills, with the cost of repayments no more than the savings generated by the installed measures.
The launch of the Green Deal was dampened by several surveys showing lack of understanding or even knowledge of the scheme, last week research suggested that 81% of the British public had not even heard of the Green Deal. To combat this issue, government’s £2.9 million communications campaign also goes live today. The nationwide campaign will urge consumers to ‘Green Deal with it’ in order to lower their bills and keep their house warm.
The Deputy Prime Minister, Nick Clegg, today hailed the scheme’s potential to help “thousands of homes stay warm for less”. He said: “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.”
However, the Green Deal has come under heavy criticism for its higher than expected interest rates since they were revealed on Friday. Announcing the interest rates, the Green Deal Finance Company (TGDFC) confirmed that the initial interest rate will start at 6.96% and rise to 7.96% for a 10-year loan. This is only equal to or in some cases more than obtainable finance in the high street and not very user friendly compared to the easy to access finance offered by selected companies such as you guessed it - Caplor energy
Commenting on the launch, Energy and Climate Change Minister, Greg Barker said: “The Green Deal will transform the energy efficiency market and puts consumers in charge.''
As you may tell - given the options that we have at Caplor for our customers on any aspect of their energy saving ambitions then I am yet to be convinced of the merits of this scheme, but at least its another option and if it gets us saving energy and reducing carbon, even if only 'fuelling' the debate to get us talking then I am all for it and indeed Caplor are already an approved green deal installer.