The Green Deal: a new revolution in energy efficiency
As part of its sustainability, Arcola Theatre continuously strives to improve its energy efficiency. In this post, we take a closer look at the Green Deal initiative being set up by the government to increase energy efficient efforts in the UK.
What is it?
The Green Deal is a new government initiative, which is intended to revolutionise the energy efficiency of British properties. It is anticipated the Green Deal will be launched in autumn 2012.
Through the Green Deal, many households and businesses can improve their energy efficiency and reduce their fuel bills through better insulation and installing energy efficient boilers. The Deal is hailed as an innovative financing mechanism which allows consumers to pay back through their energy bills. Thus, the crucial aspect is that there are no upfront costs whatsoever. Therefore, consumers can see the Green Deal charge alongside the reductions in energy use which generate savings on their bill. It also means that if they move out and cease to be the bill-payer at that property, the financial obligation doesnt move with them but moves to the next bill payer: the charge is only paid whilst the benefits are enjoyed.
Why is it needed?
At a local level, the Green Deal will enable many households and businesses to improve the energy efficiency of their properties and thus generate economic gains. At a national level, the UK needs to become more energy efficient to reduce its greenhouse gas emissions responsible for climate change.
Break down of the consumer journey
All businesses and households will be permitted to an energy efficiency assessment, undertaken by an accredited assessor.
A new finance mechanism is introduced, whereby the cost of energy efficient installations is paid back through the energy bill.
Accredited installer will install the measures, subject to the highest standard and to ensure that genuine energy bill and carbon savings are met.
4. Repayments and follow up
After the energy efficiency measures have been installed, a charge will be added to the energy meter at the property and will enable repayments through their energy bills for any Green Deal charges taken out. Repayment obligations belong to the occupier of the property.