Government Pull Funding For The Green Deal
24th July 2015
The Government's flagship "Green Deal" home energy efficieny programme is to be scrapped after The Department of Energy and Climate Change (Decc) said there would be no more funding for the Green Deal Finance Company due to “low take-up and concerns about industry standards".
Launched in January 2013, homeowners were encouraged to take out loans to improve their homes energy efficiency by installing insulation, new heating and boilers, double glazing and renewable energy such as solar panels, paying back the cost of their installation with savings on bills.
British homes are among some of the least energy efficient in Europe, despite this, there was a low-uptake of the scheme amid fears the loans were too expensive and the scheme was frequently changed. The latest figures up to June 2015 showed only around 10,000 properties had installed measures with the Green Deal Finance witha further 5,600 currently in progress.
The programme has been labelled a "disappointing failure" by the Parliamentary Energy and Climate Change Committee.
The announcement does not effect existing Green Deal plans taken out by householders or existing Green Deal Home Improvement Fund applications and vouchers made.