UK government gives flagship Green Deal £200 million boost

The UK government yesterday announced a £200 million boost for its flagship Green Deal home efficiency scheme, following the publication of its consultation on the plans.

The “new and additional” funds will support a time-limited ‘introductory’ offer to boost early take up of the efficiency scheme.

“This big injection of government funding delivers on our promise to ensure the Green Deal hits the ground running, and make it as attractive as possible so that people start to benefit from day one,” says Energy and Climate Change Secretary Chris Huhne.

The scheme will launch in October next year and Chief Secretary to the Treasury Danny Alexander confirmed that the government’s autumn statement will include £200 million in funding for the Green Deal introductory offer.

“[The fund will] get the Green Deal off to a flying start,” commented Alexander. “One that will work with the Green Deal mechanism and the ECO (Energy Company Obligation) to motivate thousands of more consumers to take up energy efficiency measures, over the next two years.”

The government has not confirmed any details of how it plans to drive early adoption, but mooted a £150 cash back offer or other incentives as part of its consultation document.

Huhne said that he expected the scheme to kick start around £14 billion of private investment in home energy efficiency over the next ten years.

For further information:
www.decc.gov.uk/en/content/cms/consultations/green_deal/green_deal.aspx

Related stories:
UK government says Green Deal will unleash £14 billion in private investment (24-Nov)
Green Deal could create £800 million energy efficiency market, says Ernst & Young (24-Oct)
Countdown to Green Deal starts as UK’s Energy Act becomes law (19-Oct)
UK businesses join forces to finance Green Deal (6-Oct)

25 November 2011

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