Green Deal finance works for 1 million properties in the UK
A Jablite-commissioned study into solid wall insulation (SWI) has found that 12% of homes in England and Wales could be given the solid wall insulation treatment and the loan will be paid off within the ‘golden rule’ terms set by the Government.
That is a total of around 1 million properties that work could start on – from the commencement of the Green Deal – soft launch or not. And 400,000 of those homes are inhabited by people living in fuel-poverty.
Serrula Research, who undertook the study, also calculated that a further 1.8 million UK properties could be treated under the Green Deal with an ECO (Energy Company Obligation) subsidy of £2,000 or less per property.
Richard Lee, Managing Director, Jablite, comments: “In total, Serrula found that there are 2.4 million dwellings that could be transformed using the Green Deal finance scheme with the support of an ECO subsidy of around £4.5 billion.
“This is a viable sum given that the Government has stated that 75% of the annual 1.3 billion ECO fund is to be used for SWI or hard-to-treat homes.
“We can see from Serrula’s research that the Green Deal really can deliver a national solid wall insulation programme to the UK – one that would cut the nation’s carbon emissions and substantially reduce fuel poverty.
“This is great news, but of course the key to success is ensuring the uptake of the opportunity by home owners and social housing providers.
“I hope Serrula’s excellent research will provide an incentive for all of us involved with the Green Deal to focus on the end game and to deliver the truly bold vision of a national home improvement programme for the UK’s housing stock.”
Serrula Research, who carried out this comprehensive research are known for their detailed and reliable analyses of complex markets. Humphry Smith, Managing Director, explains the process, “We gathered information from a range of installers and system providers of solid wall insulation.
“Taking that data, we created a strong calculator that we could use on the data from the English Housing Survey (EHS) - one the great pieces of non-physical infrastructure of our time!
“The accurate and up-to-date information in the EHS underpins our research. We have been able to state short term targets for the Green Deal in the easier-to-treat homes that need no or a relatively small ECO subsidy.
“Our research-based assumption for the long term and for those harder-to-treat solid wall properties is that, as the market expands and develops, the costs will go down and make the treatment of those properties feasible within the Green Deal too.
“Our research shows that the ambitious energy reduction targets set by the Government – and in the impending European Directive - can be achieved within the Green Deal with the ECO subsidy.”