The Energy Secretary today set the ball rolling for a scheme the Coalition hopes will stimulate £14billion of private sector investment. Chris Huhne announced a consultation on the secondary legislation for Green Deal in time for it to begin next Autumn.
The Green Deal will offer home owners and small businesses upfront cash to install efficiency measures. First outlined in an Annual Energy Statement last year, as part of a pledge to regularly report on the energy department’s progress, the Coalition was keen to emphasise that “the state’s role is to act as a catalyst for private sector investment”.
Bringing the second annual statement to Parliament, Mr Huhne said: “The Green Deal alone will kick start at least £14 billion of investment in the decade to 2022, and support at least 65,000 insulation and construction jobs by 2015.”