The Green Deal Finance Company (TGDFC) have been given a £7 million loan from the DECC in order for them to carry on developing its low cost finance starting in january 2013.
The DECC has released this statement on the 8th of August stating:
✔ £7m loan to The Green Deal Finance Company to help ensure it is ready to offer finance to Green Deal Providers in early 2013
✔ HM Treasury announces that Green Deal will be an early candidate for the use of infrastructure guarantees
✔ Green Deal registration opens today allowing organisations to begin the Green Deal authorisation process
✔ The new Green Deal Quality Mark will show who is authorised and protect consumers
Danny Alexander, the Chief Secretary to the Treasury announced that the governments commitment in working with the private sector will provide finance at a low but sustainable cost to Green Deal applicants. Infrastructure guarantees will provide guarantees for major projects and could support up to £40 billion in investment.
Energy and Climate Change Minister Greg Barker stated:
“I’m delighted to announce a number of important developments for the Green Deal today. The opening of the Green Deal register will enable businesses to start becoming Green Deal authorised and the Green Deal Quality Mark will show they have met our standards. Crucially, this will protect consumers, who will know that anyone displaying the Quality Mark has been through the required process to become authorised.”
“The loan we have agreed with The Green Deal Finance Company will help them to undertake essential development and be ready to offer finance to Green Deal Providers in early 2013.”
New guidance is available on the DECC website which clearly explains what is required to get the Green Deal Quality Mark and to become an authorised Provider. This complements existing guidance setting out how to become an authorised Assessor or Installer.
The Green Deal will open up the energy efficiency market, empowering new players, including small and medium sized businesses, to enter and innovate. The Green Deal initially covers 45 different improvements for domestic and non-domestic buildings and is expected to support up to 60,000 jobs in the insulation sector alone by 2015.