The advantage of the Green Deal is that it enables consumers to fund energy efficiency improvements from the value of savings generated throughout the payback period. Because some payback periods may last several years after the investment, consumers will need to pay interest on this money. The golden rule must hold for the total cost of the work (including the measures, labour costs and financing costs) so keeping financing costs to the absolute minimum will be fundamental to the Green Deal’s success. The ability to repay through energy bills is critical to sourcing low-cost finance. Consumers have a relatively low likelihood of defaulting on their energy bills compared to unsecured personal loans or other traditional sources of financing; this means the eventual cost of finance should be lower under the Green Deal than many standard retail finance offers, which cost around 11% even for an average consumer, and considerably more for many consumers. [Source: Bank of England, average of quoted effective annual interest rates for £10,000 personal unsecured loan 1st Jan – 31st Oct 2010 10.7%].
This will also be true for many smaller firms whose cost of corporate borrowing is high. Moreover, the Green Deal is not secured on the property so this is not at risk if repayments are not met. To achieve this lower cost of finance without securing the payments to the property, it is imperative that the Green Deal charge is treated in exactly the same way as any other part of the energy bill. And, of course, one key advantage with Green Deal is that the consumer is able to stop paying once they move out and cease to be the billpayer at the address – unlike personal loans which borrowers have to keep repaying even if they are no longer enjoying the benefits. The Government is in discussions with banks and the investor community regarding the best means of ensuring Green Deal providers can access affordable capital. Source DECC
Have your say about the proposals add your comments below.
For more information regarding the scheme for Green Deal Installers Insulation, heating and renewable energy installation contractors refer to the Green Deal www.greendealadvisersuk.com website.
Thursday, 31 March 2011
Why is the Green Deal needed?
At a local level, the Green Deal will enable many households and businesses to improve the energy efficiency of their properties without consuming so much energy and wasting so much money. At a national level, the UK needs to become more energy efficient to reduce its UK emissions greenhouse gas emissions which risk dangerous climate change.
The Climate Change Act 2008 legislated for a reduction in our carbon emissions, compared to 1990, of 34% by 2020 and on our way to 80% by 2050. It set legally-binding carbon budgets for our country for the next 12 years across all sectors of the UK economy - including our homes and communities, and our workplaces. Reducing demand for energy through eliminating waste cost effectively is one of the best ways to reduce emissions. Three quarters of the energy we use in our homes is for heating our rooms and water, most of which comes from gas-fired boilers. Together this accounts for 13% of the UK’s CO2e emissions while our workplaces are responsible for 20%.
To help meet the carbon budgets we need to cut emissions in our homes and communities by 29% and by 13% in our workplaces by 2022 (on 2008 levels). To do this we need to make our homes, communities and workplaces more energy efficient, and heat and power them from low carbon sources. Support through the Green Deal for implementing energy efficiency measures will play a key role here. The Green Deal will deliver energy saving packages to millions of homes and businesses across the country. Consequently the scheme provides opportunities for skilled and unskilled labour; from assessment to installation, manufacturing to supply, over the length and breadth of Britain, for many years to come. By ensuring a high uptake of energy efficiency measures in households and business, the national demand for imported gas could be reduced considerably. With more than a third of our gas currently imported and UK gas production on a downward trend, the net result could be a saving on imports at a national level. Source DECC
Have your say about the proposals add your comments below.
For more information regarding the scheme for home insulation, heating and renewable energy installers refer to the Green Deal www.greendealadvisersuk.com website.
The Climate Change Act 2008 legislated for a reduction in our carbon emissions, compared to 1990, of 34% by 2020 and on our way to 80% by 2050. It set legally-binding carbon budgets for our country for the next 12 years across all sectors of the UK economy - including our homes and communities, and our workplaces. Reducing demand for energy through eliminating waste cost effectively is one of the best ways to reduce emissions. Three quarters of the energy we use in our homes is for heating our rooms and water, most of which comes from gas-fired boilers. Together this accounts for 13% of the UK’s CO2e emissions while our workplaces are responsible for 20%.
To help meet the carbon budgets we need to cut emissions in our homes and communities by 29% and by 13% in our workplaces by 2022 (on 2008 levels). To do this we need to make our homes, communities and workplaces more energy efficient, and heat and power them from low carbon sources. Support through the Green Deal for implementing energy efficiency measures will play a key role here. The Green Deal will deliver energy saving packages to millions of homes and businesses across the country. Consequently the scheme provides opportunities for skilled and unskilled labour; from assessment to installation, manufacturing to supply, over the length and breadth of Britain, for many years to come. By ensuring a high uptake of energy efficiency measures in households and business, the national demand for imported gas could be reduced considerably. With more than a third of our gas currently imported and UK gas production on a downward trend, the net result could be a saving on imports at a national level. Source DECC
Have your say about the proposals add your comments below.
For more information regarding the scheme for home insulation, heating and renewable energy installers refer to the Green Deal www.greendealadvisersuk.com website.
Green Deal Energy Company Obligation (ECO)
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.
Have your say about the proposals add your comments below.
For more information regarding the scheme for insulation, heating and renewable energy installers refer to the Green Deal Finance www.greendealadvisersuk.com website.
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.
Have your say about the proposals add your comments below.
For more information regarding the scheme for insulation, heating and renewable energy installers refer to the Green Deal Finance www.greendealadvisersuk.com website.
Thursday, 24 March 2011
Budget 2011 Woes for Green Investment
The UK Government announced yesterday that some funding would be available for the Green Investment Bank, but nowhere near the industry estimates of £500 billion that is needed to target all property in the UK.
Some funding will be available (around £1bn) to start some projects later this year. The renewable energy sector seems hardest hit with revised tariffs to be introduced under the Renewable Heat Incentive scheme, and also the Feed In Tariff, which will particular affect business in the UK.
Solar Green Deal Installers were hoping for a real incentive ahead of the Green Deal Scheme to be launched in 2012, however many were disappointed by the News of delays and lower funding for projects.
Some funding will be available (around £1bn) to start some projects later this year. The renewable energy sector seems hardest hit with revised tariffs to be introduced under the Renewable Heat Incentive scheme, and also the Feed In Tariff, which will particular affect business in the UK.
Solar Green Deal Installers were hoping for a real incentive ahead of the Green Deal Scheme to be launched in 2012, however many were disappointed by the News of delays and lower funding for projects.
Tuesday, 22 March 2011
Green Deal Insulation
One of the primary agenda items of the scheme is to encourage UK homes and businesses to improve insulation within buildings in the UK.
Some of the UK housing stock is still poorly insulated, the Government wants to improve the standard of insulation of property in all sectors, including landlords, social housing and in particular housing associations where a grant under the scheme will enable the installation of loft, cavity wall and external solid wall insulation for homes and business premises.
Financing the improvements would be carried out by repayments through the consumers existing energy metering from their utility supplier. Thus, there would be be no need for cash outlay by the property owner, as the "loan" is attached to the property, not the owner.
For further details about the benefits that are being proposed about the green deal scheme please refer to:
Green Deal www.greendealadvisersuk.com insulation installers and providers of insulation materials.
Green Deal www.epcforepcs.co.uk/Green_Deal/index.html
Green Deal www.home-hip.co.uk/Green-Deal.htm UK websites related to the green deal plan.
Green Deal Finance www.greendealadvisersuk.com/Finance/index.html Loans and financial advice for business and homeowners.
Some of the UK housing stock is still poorly insulated, the Government wants to improve the standard of insulation of property in all sectors, including landlords, social housing and in particular housing associations where a grant under the scheme will enable the installation of loft, cavity wall and external solid wall insulation for homes and business premises.
Financing the improvements would be carried out by repayments through the consumers existing energy metering from their utility supplier. Thus, there would be be no need for cash outlay by the property owner, as the "loan" is attached to the property, not the owner.
For further details about the benefits that are being proposed about the green deal scheme please refer to:
Green Deal www.greendealadvisersuk.com insulation installers and providers of insulation materials.
Green Deal www.epcforepcs.co.uk/Green_Deal/index.html
Green Deal www.home-hip.co.uk/Green-Deal.htm UK websites related to the green deal plan.
Green Deal Finance www.greendealadvisersuk.com/Finance/index.html Loans and financial advice for business and homeowners.
Monday, 21 March 2011
Green Deal Solar
The UK government has recently confirmed that renewable energy options will be available under the scheme. These include solar panes, solar thermal hot water, biomass boilers air and ground source heat pumps and wind turbines.
In addition some of these systems already qualify for subsidies and cashback under the Feeed in Tariff scheme, however the further benefits will also include funding under the renewable heat incentive (RHI) tariff scheme.
For further information refer to UK Green Deal www.greendealadvisersuk.com
Fore renewable energy installers refer to:
Renewable Heat Incentive Green Deal providers.
Green Deal Solar - solar panels and PV photovoltaic systems.
Green Deal Finance financial packages and loans for the scheme.
In addition some of these systems already qualify for subsidies and cashback under the Feeed in Tariff scheme, however the further benefits will also include funding under the renewable heat incentive (RHI) tariff scheme.
For further information refer to UK Green Deal www.greendealadvisersuk.com
Fore renewable energy installers refer to:
Renewable Heat Incentive Green Deal providers.
Green Deal Solar - solar panels and PV photovoltaic systems.
Green Deal Finance financial packages and loans for the scheme.
Sunday, 13 March 2011
Green Deal Providers
The Green Deal Scheme will provide homeowners and business owners with options for energy saving improvements for domestic homes and commercial property. Improvements include renewable energy for solar panels, wind turbines and biomass boilers.
Loft insulation, cavity wall insulation and external solid wall insulation for solid brick built homes will also be made available. For access to these and other resources refer to Green Deal and Green Deal Installers.
Loft insulation, cavity wall insulation and external solid wall insulation for solid brick built homes will also be made available. For access to these and other resources refer to Green Deal and Green Deal Installers.
Subscribe to:
Posts (Atom)