Today was a big day for the solar/renewable industry, after a soft-launch which took more than it should, at last, the Green Deal scheme was officially launched to the general public.
There will be many beneficiaries of the coalition's most important energy scheme, almost all the residences in England and Wales will be allowed to install energy efficiency measures without paying anything in advance.
The costs are to be paid for by the savings resulted on utility bills, and also the cost of repayments will be no bigger than the savings created by the installed measures, a consequence of higher efficiency etc.
Mr. Nick Clegg, the Deputy Prime Minister, spoke today about the scheme's potential, which is able to help “thousands of homes stay warm for less”. He also stated that:
"The UK green sector is a success story – it is the sixth largest in the world and has a crucial part to play in building a strong economy. The Green Deal will support thousands of jobs – not just over the next few years, but in the long term.”
Not everybody was happy with the Green Deal scheme, actually it came under heavy criticism, there were allegations about the "rip off interest rates", as they were revealed Friday to the general public.Indeed, the Gren Deal Finance Company (TGDFC) announced that the initial interest rate will start at 6.96 percent and it will be up to 7.96 percent for a ten year loan.
As Luciana Berger, the Labour’s Shadow Climate Change Minister explained:
"The whole point of the Green Deal is that households are meant to save money on their energy bills - but with rip off interest rates, hidden charges and penalty payments the Green Deal could end up costing people more than they save. With sky-high interest rates it’s hard to see how the Green Deal will be anything other than a bad deal for the public."
The Green Deal launch suffered from a lack of attention from the general public, as a research showed that over 80 percent of the British public has no idea and never heard about the Green Deal scheme.
The United Kingdom Government invested heavily in a communications campaign, in order to combat the issue, over £2.9 million were spent in this regard, and it is live as I write this article. The whole purpose of the campaign is to convince the population that the Green Deal is there to help them lower their bills and also keep their residences warmer.
The Department for Energy And Climate Change (DECC) Minister, Mr. Greg Barker commented about the Green Deal launch:
The Green Deal will transform the energy efficiency market and puts consumers in charge. It’s a fantastic new scheme that will allow people to make their homes warmer and save energy at the same time. And it’s not just consumers who will benefit. The Green Deal is also great for business, creating a new market and new jobs. I’m truly excited about the potential the Green Deal has to transform Britain’s buildings.”
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