Saturday, 25 July 2015

The Final Nail For Green Deal

On Thursday the Department of Energy and Climate Change said it was ceasing financing to the Green Deal Finance Company which issues the loans,and was bailed out by the government last November with a £34m loan.  Today’s move is expected to lead to the company immediately halting the issuing of new loans, although existing ones or loans in progress – known as ‘green deal plans’ – will not be affected.

 The government has no new scheme in place to succeed the green deal, saying simply that it would work with the building industry and consumer groups on energy efficiency policy. Which?, the consumer organisation, said it was right that the government stopped throwing money at a scheme that had not taken off.

 British homes are among some of the least energy efficient in Europe, which can drive up household fuel bills by hundreds of pounds every year.

The government has not yet revealed plans for a replacement scheme to carry out further work to improve household energy efficiency.

 'Zero interest loans to make homes energy efficient would be far more popular and could generate more tax revenue for the Treasury than it costs to subsidise.'

 Greenpeace UK head of energy, said: “The green deal was far from being a success, but coming right after the scrapping of the zero-carbon homes target, this latest move suggests ministers are giving up on efficiency. This would be a false economy. Fixing our heat-leaking homes is a triple-win policy that can bring down bills, cut carbon emissions, and reduce our dependence on energy imports.”

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