March 13, 2013

The Green Deal

The Energy Act 2011 (Amendment) (Energy Performance of Buildings) Regulations 2012 (SI 2012/3170) (Amending Regulations 2012) were made on 20 December 2012 and came into force on 25 January 2013.  These regulations will implement the government’s Green Deal, a mechanism introduced with the aim of improving the energy efficiency of buildings.  Under the scheme energy efficient measures can be installed at properties through accredited Green Deal providers for no up-front costs.  The costs are then repaid with such payments being no greater than the value of the energy that is saved.  The energy efficiency improvements to properties should then pay for themselves through the savings made.

So how does the scheme work?  A Green Deal assessor assesses the energy efficiency measures recommended for the property.   A Green Deal installer then installs the measures.  The assessor and installer are monitored by a Green Deal provider who offered the plan to the customer in the first place.   Any seller, landlord or licensor of property will be required to disclose the existence of a Green Deal Plan to a buyer, lessee or licensee

Will the scheme work?  Further documentation in relation to the Green Deal is still to be provided by the government.  In addition there appears to be uncertainty caused by the fact that the government still awaits to receive state aided clearance for the financing of the scheme.  Such uncertainty does not appear to encourage the confidence needed for companies and individuals to sign up to the deal.

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