DECC announces £7m loan for Green Deal

DECC has announced a £7million loan for the Green Deal to ensure the scheme is ready to offer finance next year. The Green Deal Finance Company (TGDFC) will provide the […]

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By Priyanka Shrestha

DECC has announced a £7million loan for the Green Deal to ensure the scheme is ready to offer finance next year.

The Green Deal Finance Company (TGDFC) will provide the money to help Green Deal Providers offer low cost packages to consumers who upgrade their homes under the scheme.

It will help homeowners and businesses improve the energy efficiency of their properties so less energy is consumed and less money is wasted.

Some of the members of the TGDFC include British Gas, E.ON, Kingfisher, EDF Energy and Carillion.

Businesses who wish to become Green Deal Providers can today start applying for the approval process.

Energy and Climate Change Minister Greg Barker said: “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 scheme is expected to support around 60,000 jobs in the insulation sector by 2015.

The Government also announced it will provide guarantees for major infrastructure projects in the UK which could support up to £40billion of investment.