The Green Deal Residential and Commercial – Latest Government Comment
Whether you’re interested in the Green Deal and its residential application, or a Green Deal commercial loan, there’s one thing we all have in common. We’re interested in using Green Deal finance to make the cost of energy efficient refurbishments and home improvements easier to bear.
And according to Greg Barker MP, the climate change Minister, there’s a direct link between the Green Deal and the economy too.
The construction industry has long been seen as a mainstay of British economic health – that is, the more work British construction firms are doing, the healthier the economy seems to be. So when Greg Barker suggested that the Green Deal – residential or commercial – could help to kick start the economy, he necessarily stressed that the link between mitigating upfront costs, and supplying much-needed work to construction firms, was a strong one.
Speaking at a property conference earlier this year, Mr Barker stated that the Green Deal financing scheme would deliver the work the construction industry needs to revitalise itself during these turbulent times; the wherewithal for homeowners and property owners to lower their future energy bills; and the security the financing bodies required to make the loans viable in the first place.
In other words, the Green Deal, commercial or residentially applied for, is a loan with built-in security, guaranteed for the home or property owner whose building fits the loan criteria.
Mr Barker anticipates that the Green Deal commercial and residential loan scheme will be capable of supporting 65,000 jobs by the year 2015. In addition, the resale value of homes improved through the Green Deal residential scheme will elevate, as future residents find (once the loan is paid off) their energy costs dramatically reduced. And the most vulnerable members of society, homeowners and tenants who don’t have the money to pay for the energy effective refurbishment their dwellings sorely need, will be benefited immediately.
The current round of talks on the Green Deal is set to continue, with Government ministers in consultation over who should be leading the project – policy incentives or energy companies. Current reports favour the introduction of policy incentives to guide the Deal in the right direction.