Green Deal Set To Roll Out in the UK

The UK is about to begin rolling out its "green deal" program.  The basic program sounds a lot like many of our grand plans on this side of the pond, so there is much to be interested in, and the potential to learn a lot as it rolls out.

The basic program is a 7.5% loan with up to a 25 year term, that is paid back on a utility bill.  Projects are required to be "cost effective" to participate.  

They have experienced similar issues related to accuracy of predictions, and some people who have not received the savings they understood they were buying.  As well, there is some flack currently over the interest rate.  But it looks as though it is politically set to roll-out.

It will be very interesting to see how well this does with the adoption barrier.  We are clearly look at very similar programs in the US, with the NY on-bill recovery program as a key example.  In that program consumers will be able to access very low interest loans (2.99%) for cost effective retrofits and repay them through their utility bill.  It is not without its fair share of hurdles, but is also in the process of rolling out.

Click to Read Article on Green Deal:  Homeowners will be able to borrow up to £10,000 for home insulation