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More Cash For Green Deal

October 14, 2014

The £100 million funding of the Green Deal may come too late for many companies that have invested in providing installation measures.

Energy Secretary, Ed Davey’s statement to the Liberal Confernece in Glasgow last week, stated that £100 million would be provided for the Green Deal Home Improvement Fund (GDHIF).

This is on top of the £120 million that was promised in June this year but led to such a take up that the scheme was closed suddenly in July. It led to shock and massive criticism from many trade associations and other bodies and those who had invested substantial amounts in training and resources to prepare for installing energy efficient products like boilers and solar heating.

Insulation companies that were expected to win a great deal of business from the Green Deal have reported themselves in difficulty with many going bust or announcing redundancies.

Big companies that have listings on the FTSE and operate facilities management services in the energy efficiency sector, are among the casualties. Carillion, after it lost £43 million cut 1,000 jobs from its energy services division, due in part to far lower than expected demand for energy efficiency upgrades.

This new funding for the Green Deal begins in November but there are many who feel it comes too late and is not going to be sufficient to maintain the it as a viable, long term scheme.

“As temperatures start to drop and households turn up their heating, this additional funding is a timely, but ultimately temporary, solution to encouraging energy efficiency,” stated John Alker, UK Green Building Council. “This funding could see us through to the General Election, but what happens after that? All parties must recognise that home energy efficiency is an infrastructure priority, with public investment needed to support the most vulnerable and to create the confidence for the private sector to scale up investment over the long term.”

 

Caption            Will he be smiling for much longer? Energy Secretary, Ed Davey, announced a further £100 million for the Green Deal Home Improvement Fund but this may not be enough for installer businesses that invested in the scheme.

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