Green Deal finance take up disappointing, admits Davey

Ed Davey, MP
Ed Davey, MP

Energy Secretary Ed Davey has admitted that the take up of Green Deal loans to improve the energy efficiency of homes has been “disappointing”.

Davey told the Ecobuild 2014 conference that the Green Deal’s finance packages had started off as being “too clunky and too complex”.

But he hailed the success of its sister scheme, the Energy Company Obligation (ECO), which will have insulated one million homes by the end of the financial year.

He added that further incentives would be unveiled later this month to reignite interest in the Green Deal.

Davey said:

“I am encouraged that so many people are using the Green Deal assessment to seek information and to take action to invest in making their homes warmer.

“But when it comes to converting Green Deal assessments into finance plans, the story so far has been, let’s face it, disappointing. And we need to tackle that.

“But the fact that most people currently having a Green Deal assessment are not then going on to choose Green Deal finance plans shouldn’t actually worry us.

“How people pay for energy efficiency improvements is not after all the main issue. The aim of the Green Deal isn’t to sell green credit plans, but to make our homes warmer, cheaper and greener.”

 

 

 

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