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Green Deal 'Golden Rule' change is eminment

Tuesday, January 28, 2014

Barker states that the government are considering a relaxation of the Green Deal "Golden Rule"

The key principle of the Golden Rule is that the repayments for installed measures should not exceed the savings you make.

The reality is that unless you have an old boiler or poor insulation then other measures will not stack up under the scheme. Boiler and insulation carry a strong life time savings ratio and this combined with other measures can sometimes make installation of multiple measures attractive.

The underlying issue if the rule is changed is that you may leave debt to the next occupier in the home if the savings don't match up to payments. Surely there are multiple solutions to this. If you split the payments up leaving the maximum allowable attached to the property  with the remainder packaged up in a loan for the occupier, surely many home owners or long term tenants would see this as a value proposition?

The Green Deal scheme has taken 12 months to evolve to its current version with aspects like ECO working well.

It is my belief that the majority of the population have an interest in lowering their carbon footprint and also their energy bills. This is the agenda of the Green Deal scheme so the Government and large industry stake holders need to come to the party with a streamline process and a financial vehicle that will work for everyone involved.

 


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