To have any hope of hitting our legally binding carbon targets and to keep people out of fuel poverty, we have to radically transform the energy performance of housing stock.
But the bill for refurbishing our stock to the required standard is very high: something like £7bn to £15bn per year until 2050. A hell of a pill for treasury to swallow as part of general spending.
Enter Green Deal. Under this arrangement, Government don’t have to fork out the money. Instead, Green Deal captures the estimated value of future energy savings that result from a low-energy refurb, converts these annual savings into one lump sum and then uses this lump to carry out the refurb in the first place. Get it all just right, and the capitalised savings are worth more than it costs to carry out the refurb. Brilliant! Refurb bill sorted. (more…)
carbon limited 