The Government’s Green Deal to radically overhaul the energy efficiency of homes and small businesses could support a quarter of a million jobs over the next 20 years.
Energy and Climate Change Secretary Chris Huhne announced the initiative at the Liberal Democrat Conference in Liverpool yesterday.
He said: “The Green Deal is a massive new business opportunity which has the potential to support up to a quarter of a million jobs as part of our third industrial revolution. Insulation installers and the supply chain all stand to benefit from this long overdue energy makeover.
“Energy efficiency is a no brainer. We need to tap in to this huge market to save people money on fuel bills, save carbon and help the economic recovery.”
The Green Deal will see upfront finance a building’s energy meter with householders paying back over time with the repayments less than the savings on bills.
Huhne said: “Since there is no money left, my department is pioneering new ways of turning this government into the greenest ever.
“We use more energy to heat our homes than Sweden, where it’s seven degrees colder in January. We might as well be standing outside burning £50 notes. By stopping this waste, we can make big savings on bills, and use them to pay businesses for the cost of insulation. This is the green deal.”
It’s not clear whether there will be any government funding to help get the scheme started.