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Davey opens ECO consultation

eco

Energy secretary Ed Davey has anounced the opening of a consultation into planned changes to ECO and Green Deal.

Proposed changes to the energy efficiency schemes have been prompted by poor uptake of Green Deal finance and a government review of green levies conducted in December.

Plans for ECO concentrate on making the scheme more cost-effective including extending its duration by two years to 2017. This should save consumers £50 per year through a reduction to the levy applied to energy bills.

Proposed changes to Green Deal in order to boost uptake include:

-Cashback scheme extension with payments for some technologies increased
-Stamp Duty rebate worth up to £1000  for all housemovers (£4000 for solid wall insulation)
-Green Deal Communities Scheme increase from £20m to £80m
-£30m to finance public sector building improvements
-A streamlining of Green Deal finance to offer completion in 24 hours

DECC are also considering opening the cashback scheme to installers.   

The consultation closes on 16 April with changes coming into affect from October 2014.