Green Deal Finance for Energy Efficiency Improvements

THE UK government completed its Green Deal energy efficiency scheme, with Greg Barker, Climate Change Minister, releasing £244 million of funding to the non-profit Green Deal Finance Company.

The Finance Company will provide funding for businesses and homes looking to improve energy efficiency. BusinessGreen reports that the details of the agreement are not yet know, but they believe the money has come from a wide range of stakeholders, including government, local authorities, and private businesses.

The £244 million of financing is expected to cover the first year of Green Deal loans, with the European Union allowing up to £600 million of public support resulting in the possibility of another £356 million becoming available later.

The Green Deal Finance Company will provide the bulk of the funding for businesses and households to implement energy efficiency improvements without any upfront cost. The repayments will come from the money saved from the reduced energy bills.

Picture UK Parliament at Sunset By Mgimelfarb (Own work) [Public domain], via Wikimedia Commons

Wednesday 13th March 2013

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