Green Deal interest continues to grow with 7,400 assessments in March

The latest figures released by the Department of Energy and Climate Change (DECC) reveal that interest in the Green Deal is gathering pace.

Since the scheme was launched in January there have been over 9,200 assessments lodged.

The latest figures show that the number of assessments has dramatically picked up over the last month, with 7,465 assessments lodged in March – a 331% increase from February’s figures.

Commenting on the statistics, energy and climate change minister Greg Barker said: “It is clearly very early days but the latest figures on the Green Deal show that this new market is gathering real momentum. 9,268 Green Deal assessments taking place in just over two months is very encouraging and shows a genuine interest from consumers. The Green Deal gives people the opportunity to improve the efficiency of their homes, make them warmer and protect themselves from rising energy bills.

“The number of businesses getting on board continues to rise steadily, underlining that the Green Deal offers fantastic new commercial opportunities. 48 firms are now authorised as providers, with a further 831 registered to carry out installations and over a thousand individuals registered to offer assessments. Overall this is a really promising start for the Green Deal.”

In addition to the encouraging figures, the Green Deal Finance Company has confirmed a £244 million funding package with DECC, the UK Green Investment Bank and other stakeholders.

The GDFC finance package will consist of committed funding of £69 million from 16 members of the company and other stakeholders in the Green Deal in the form of Stakeholder Loans and Junior Capital. In addition the finance package will include additional Junior Capital Facility of £20 million and a Contingent Capital Facility of up to £30 million provided by DECC as well as a senior debt facility of £125 million provided by the UK Green Investment Bank.

Mark Bayley, chief executive of the Green Deal Finance Company, said: “We can now offer Green Deal Providers a one-stop-shop to set up, finance and administer Green Deal Plans. This package will provide very long-term and low-cost funding to enable householders across all parts of the country to finance energy efficiency improvements to their homes.
 
“By ensuring that householders can only borrow what they can expect to save in energy bills, and by offering a fixed rate for 10 to 25 years, Green Deal Plans will be affordable and widely available to over 80% of the population.  No other consumer credit product offers a fixed rate for up to 25 years and is this inclusive.”

Commenting on the news, Richard Griffiths, policy and campaigns consultant at the UK Green Building Council, said: “These new statistics are encouraging and it is now clear that there is real momentum behind the Green Deal and ECO. Businesses are clearly seeing the potential in the retrofit market with an increase in the number of companies signing up to be assessor organisations.

“However, the real proof will be how many of these assessments are ‘converted’ into installations. Long-term incentives will be key to ensuring that there is continued demand for the Green Deal and not just an initial bubble. It is also positive to note that many of our members have anecdotally reported an increase in demand for retrofit related services outside of the Green Deal which is likely to have been spurred by the news coverage and advertising around the scheme.”