Energy Act
One Year to the Green Deal as Energy Act becomes Law
This morning the Department of Energy and Climate Change announced that the Energy Act has now been passed as law, which sets in stone the legal framework for "The Green Deal", which will be launched in Autumn of next year. The aim of Green Deal is to encourage home energy efficiency improvements (such as insulation, draught proofing, glazing and energy efficient boilers) to be paid for by savings from energy bills. It is a pay as you save scheme whereby customers get money up front to make the required energy efficiency improvements in the form of a loan; probably up to a maximum of around £6,500. The loan repayments then attach on to the energy bill for the property rather than the property itself. This is then the liability of the bill payer but only for the duration of his/her responsibility for meeting the energy bill. The level of repayments must obey a "golden rule" whereby the charge is no more than the expected savings, meaning customers could start as soon as their home improvements have been made.
Chris Huhne, Energy and Climate Change Secretary said:
"A huge hurdle has been passed in bringing the Green Deal closer to making homes warmer and cheaper to run. The coalition is doing all it can to bear down on energy prices, but insulation will provide the long term help to manage bills. When it is introduced the Green Deal will be as easy as ABC by making work affordable, providing bespoke independent advice and choice in the market from well known and trusted hight street names."
To read the full press release from the Department of Energy and Climate Change click here
At H & R SERVICES (OXFORD) LTD we are committed to providing energy saving advice to our customers. If you would like advice about improving your home's energy efficiency or generating your own heat and power please click here to contact us today.
Submitted by The Office on Wednesday 19th October 2011
