Green Deal Loans Incentive Ready

15th January, 2013

The Green Deal Finance Company (GDFC) has opened its doors to take orders for Green Deal loans. The launch of its cash incentive scheme for the Green Deal has been brought forward in a bid to drive early take up of the flagship scheme. The Green Deal will launch on January 28, offering households and businesses the opportunity to undertake a wide range of energy efficiency property upgrades at no upfront cost, before paying for the work through a modest levy on their energy bills that will not exceed the savings that result from the improvements.

Department of Energy and Climate Change (DECC) officials said the decision to bring the incentive scheme forward was taken in part to bridge the gap between the end of last year’s insulation programmes, which ended on 31 December, and the start of the Green Deal at the end of the month. The government said it would help encourage people to get Green Deal assessments of their homes before 28 January, when the scheme formally launches, creating an early pipeline of work.

The incentive scheme had been expected to open alongside the Green Deal at the end of the month. Under the incentive scheme people taking up the Green Deal will be able to get up to £650 per measure installed in their home. There is no cap on the amount that an individual household can receive. The government announced late last year that it would provide £125m in cashback incentives to help drive initial adoption of the scheme and the Department of Energy and Climate Change (DECC) has today confirmed the payments that will be on offer to customers installing a range of different technologies.

"The Green Deal will be a great offer for people to insulate their homes from the cold, and their wallets from rising energy prices," said Energy and Climate Change Secretary Ed Davey. "With cashback too, energy saving has never been so attractive. Our cashback scheme is a generous offer but it's first-come, first-served so householders need to be quick off the mark. Get an assessment, be ready to have home improvements done with a Green Deal when it launches on 28 January and then get your cashback."

"The cashback offer is very, very exciting," said Climate Change Minister Greg Barker. "It will be possible to get well over £1,000 back for somebody undertaking a full retrofit of their house. If you tot up the offers available for the different technologies it comes to well over £1,000."

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