The Green Deal is a new initiative that will deliver energy saving home improvements to homeowners and tenants with no upfront costs - the investment being a mixture of public and private investment from (amongst others) big high street names like M&S, Tesco and B&Q.
Homeowners will pay back the 'loan' via the energy savings the improvement makes, whilst the companies backing the scheme will undoubtedly get some form of carbon credits etc.
As we reported earlier, (see here), The Golden Rule of any energy saving home improvement will be that it must save more money than it costs to install.
Payouts are expected to be capped at around £6000 and there are reports that Landlords could be forced to install green deal measures if asked to do so by their tenants.
The loans will be attached to the property rather than the owner, so anyone buying a property that's had green deal improvement work carried out will take over the loan 'repayment'.
The Government reckon 14m of the 27m homes in the UK would benefit from either loft, cavity or solid wall insulation.
Are there really that many homes without any sort of loft insulation fitted? Maybe I'm lucky but I can't recall knowing anyone who didn't have their loft insulated.
photo credit: robert s donovan
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