Green Deal finance will not be the only source of support for energy efficiency measures in homes. At the moment, the Government’s principal tools for driving uptake are the energy company obligations Carbon Emissions Reductions Target (CERT) and Community Energy Saving Programme (CESP). The Government has committed to replacing these programmes when they expire at the end of 2012 with a new Energy Company Obligation. The obligation will be restructured to bring it up to date and enable it to function alongside the Green Deal finance market. The ECO will be focused on those households who need support over and above the Green Deal so that everyone can share in the British energy efficiency transformation.
Importantly,it will provide measures which help the most vulnerable low income households, who tend to under-heat their homes, to heat their properties adequately and more affordably. It will also offer support to the expensive to treat properties, such as those with solid walls. The additional ECO support will be able to be combined with Green Deal finance as one package for consumers. Legal powers will exist which enable Government to incentivise energy companies to channel part of their spending towards joint offers (ECO support plus Green Deal finance). However, we expect there to be many natural incentives in place to encourage this approach. We would only use these powers following a review which showed that the companies’ behaviour was leading to consumers losing out, and that using the powers would increase the overall cost-effectiveness of the ECO in achieving carbon savings. Source DECC.
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For more information regarding the scheme for insulation, heating and renewable energy installers refer to the Green Deal Finance www.greendealadvisersuk.com website.
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