Funding news - 08/08/2012
Government Announces Next Steps for the Green Deal
The Government has announced that a £7 million loan from the Department of Energy and Climate Change (DECC) to The Green Deal Finance Company (TGDFC) has been agreed.
This will allow TGDFC to continue developing its offer of low cost finance, expected to be available early in 2013. Green Deal Providers will be able to access finance through TGDFC, enabling them to offer low cost finance packages to consumers upgrading their homes under the Green Deal.
Additionally, the Green Deal is being considered as an early candidate for the use of infrastructure guarantees. This demonstrates the Government’s commitment to working with the private sector to provide finance at a low but sustainable cost to Green Deal customers. Infrastructure guarantees will provide guarantees for major UK infrastructure projects and could potentially support up to £40 billion of investment.
The register for Green Deal Providers, Assessors and Installers will has now opened. The register will give the seal of approval to businesses that successfully go through the Green Deal authorisation process. All authorised Green Deal Providers, Assessors and Installers will have to display the new Green Deal Quality Mark to demonstrate they comply with the required Green Deal standards.
Energy and Climate Change Minister Greg Barker said:
"I'm delighted to announce a number of important developments for the Green Deal. The opening of the Green Deal register will enable businesses to start becoming Green Deal authorised and the Green Deal Quality Mark will show they have met our standards. Crucially, this will protect consumers, who will know that anyone displaying the Quality Mark has been through the required process to become authorised.
"The loan we have agreed with The Green Deal Finance Company will help them to undertake essential development and be ready to offer finance to Green Deal Providers in early 2013."
Businesses wishing to become Green Deal Providers can apply directly online to become authorised, while accredited certification bodies will be able to submit the details of Assessors and Installers to be authorised.
The Green Deal will open up the energy efficiency market, empowering new players, including small and medium-sized businesses, to enter and innovate. The Green Deal initially covers 45 different improvements for domestic and non-domestic buildings and is expected to support up to 60,000 jobs in the insulation sector alone by 2015.
Source: Department for Business, Innovation & Skills, 08/08/2012