A look at the Government’s new ‘Green deal’

Green Deal to create jobs

The governments’ green policy started to take shape at the Liberal Democrat conference in Liverpool last week, with the announcement that the ‘Green Deal’ will radically overhaul the heating efficiency of homes and small businesses, and will create jobs.

Over the next 20 years, the scheme should create 250,000 jobs as houses are made fit for a low-carbon future. With over £7m of government investment planned, 26m homes should be converted by 2030.

The scheme will work by attaching an one-off upfront payment to the building’s energy meter. People can pay back over time. With the repayments less than the savings on bills, many benefit from day one. It will help save carbon, energy and money off fuel bills.

Energy and Climate Change Secretary, Chris Huhne, said: “The Green Deal is a massive new business opportunity, which has the potential to support up to a quarter of a million jobs as part of our third industrial revolution. Insulation installers and the supply chain all stand to benefit from this long overdue energy makeover.”

The most energy inefficient homes in the UK could save, on average, around £550 per year by installing insulation measures under the Green Deal.

The Green Deal is expected to be in effect from late 2012.

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