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Green deal

Green deal

Government incentive to promote use of domestic renewable technology.

What is the Green Deal?

This is a government initiative to encourage energy efficiency, covered by the Energy Act of 2011. Provision was made for the development of a new Energy Company Obligation (ECO) and the Green Deal financial mechanism. The ECO (Energy Company Obligation) and the Green Deal will eventually be integrated. This will allow the supplier subsidiary and Green Deal Finance to work together.

How does the Green Deal work?

It offsets the up-front payment needed to fund efficiency measures using savings made in energy consumption. In other words, the cost of the improvements in households and businesses will be covered by savings on their electricity bills.

A Copy of the Energy Act 2011 is
Available below

http://www.decc.gov.uk/en/content/cms/legislation/energy_act2011/energy_act2011.aspx

A Copy of The Green Deal and Energy Company Consultation Document

http://www.decc.gov.uk/assets/decc/11/consultation/green-deal/3607-green-deal-energy-company-ob-cons.pdf