Companies including engineering contractor Carillion and major energy and finance firms have signed a deal to develop a business plan that will aim to best finance the government-led Green Deal.
The Green Deal Finance Company — a consortium including Carillion, British Gas, Eon, EdF Energy, Goldman Sachs, PricewaterhouseCoopers and Scottish and Southern Energy, among others — will identify the best value Green Deal options for consumers, and look at how the cost of finance for future accredited Green Deal providers can be minimised.
Many more new associate members are expected to join the consortium in the next few months, including suppliers, installers, providers, local authorities, and industry and consumer representative bodies.
Under the Green Deal, people will be given up to £10,000 to install energy saving measures such as loft and cavity wall insulation, innovative hot water systems, condensing boilers or solar thermal energy in their homes, community spaces or businesses at no up front cost. Private firms carrying out the improvements will then recoup payments through a charge in instalments on the recipient’s energy bill.