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What is the Green Deal?
The Green Deal is the “flagship” policy of the Energy Act 2011, which received Royal Assent on 18th October 2011. The Green Deal will allow private firms to offer consumers energy efficiency improvements to their homes, community spaces and businesses at no upfront cost. The cost of these improvements will be met by recouping payments through a charge (linked to the property rather than the individual) collected by instalments, which will be itemised on the consumer’s energy bill. Consumers will be able to see the Green Deal charge alongside the reductions in energy use, which generate savings on their bill. The expected financial savings must be equal to or greater than the costs attached to the energy bill - this is known as “the golden rule” of the Green Deal. At the moment, the Department of Energy and Climate Change are carrying out a consultation, and the secondary legislation for the Green Deal is being developed. It’s anticipated that the first “Green Deals” will appear in October 2012.
For further information see our article: The Green Deal Q&A
How can Devonshires help?
We can guide you through the new legislation and help you prepare for the planned proposals under the Green Deal. For example, you may be thinking of setting up a Green Deal delivery vehicle: we can advise you on corporate and funding matters, procurement aspects and any contractual matters.
For further information please contact Caroline Mostowfi or Paul Buckland.
