
In the Queen’s speech she spoke of a new era under the Coalition Government, a new dawn which will see a major change in the green initiative, which will allow more loans to enable house holds to invest in measure such as solar panels to help make their home more environmentally friendly.
The new Government wants to create a green investment bank which would loan individual household the money to invest in carbon-reducing measures which includes insulation.
The plan if introduced will be known as ‘pay as you save’, the idea is you will repay the loan using the money you save on your energy bills due to the changes you make. It was originally a Labour idea in which they intended to create a £2bn fund.
No figure has been confirmed as yet, Tories previously quoted £6,500 for every home and the Lib Dems suggest £10,000 maybe a more realistic number. Both will have to increase their quote if they are to reach the typical electricity generating solar scheme cost which is closer to £15,000. However their amounts would allow householders to invest in cheaper solar water heaters or a range of insulation measures.
The new energy bill may also contain measures to:
• Require energy companies to provide more information on energy bills in order to empower consumers and to ensure fair access to energy supplies.
• Regulate the carbon emissions from coal-fired power stations.
• Reform energy markets to deliver security of supply and ensure fair competition.
• Put in place a framework to guide the development of a smart grid that will revolutionise the management of supply and demand for electricity.
• Ensure that North Sea infrastructure is available to all companies to ease the exploitation of smaller and more difficult oil and gas fields.
Chris Huhne, the new energy and climate secretary said: “The Queen’s speech makes clear that energy security and taking real action to tackle climate change aren’t add-on extras for this new government, but are vital to our national interest.”
“The energy bill is designed to help consumers put a stop to wasting energy in their homes through a green deal while making sure our energy system is fit for the 21st-century.”
Paul King, chief executive of the UK Green Building Council, welcomed the focus on improving the energy efficiency of homes and buildings.
“The biggest barrier preventing home owners carrying out low carbon refurbishment is the upfront cost of the measures.”
“The ‘green deal’ will help overcome that problem by leveraging private sector investment – vitally important in this time of public sector spending cuts.”
He said legislation was needed to enable every home in the country to benefit from the pay-as-you-save scheme, which is already being piloted. He then went on to say “The legislation is also an opportunity to create a package of additional incentives that will encourage take-up of the green deal – and to bring forward a version of the scheme that will work for non-residential buildings”.
BuilderScrap welcomes any improvement and cost saving schemes for households and hope this will come into effect if or when the trial is deemed a success.