Up to a quarter of a million jobs by 2030, says Energy Secretary
The Government’s Green Deal to radically overhaul the energy efficiency of homes and small businesses could support a quarter of a million jobs over the next 20 years, The Rt Hon Chris Huhne MP said today.
The Green Deal will be a new and radical way of making energy efficiency affordable for all, whether people own or rent their property. The upfront finance will be attached to the building’s energy meter. People can pay back over time with the repayments less than the savings on bills, meaning many benefit from day one. It will help save carbon, energy and money off fuel bills.
It’s the first estimate on the potential job creation from the projected £7 billion of Green Deal private sector investment per year. Were all 26 million households to take up the Green Deal over the next 20 years, employment in the sector would rise from its current level of 27,000 to something approaching 250,000, working all around the country to make our housing stock fit for a low carbon world.
Energy and Climate Change Secretary The Rt Hon Chris Huhne MP said:
“The Green Deal is a massive new business opportunity which has the potential to support up to a quarter of a million jobs as part of our third industrial revolution. Insulation installers and the supply chain all stand to benefit from this long overdue energy makeover.
“Energy efficiency is a no brainer. We need to tap in to this huge market to save people money on fuel bills, save carbon and help the economic recovery.”
National Insulation Association Chief Executive Neil Marshall said:
“The Green Deal is an exciting new initiative which has a key role to play in significantly increasing the uptake of insulation, creating new jobs, whilst also reducing energy bills and tackling climate change. The NIA and its members look forward to continuing to work with Government in developing a robust delivery plan which will ensure a major increase in insulation volumes whilst maintaining the highest levels of quality and customer service.”
Top five facts about the Green Deal
- Every one of the 26 million homes in the UK could benefit in some way from the Green Deal as well as many of the UK’s businesses;
- It’s estimated that there are 14 million insulation measures like loft, cavity and solid wall to be carried out in Britain’s homes;
- The most energy inefficient homes in the UK could save, on average, around £550 per year by installing insulation measures under the Green Deal;
- The Energy Security and Green Economy Bill will be introduced in the autumn to legislate so that long term repayment can be made through a charge on a home’s energy meter;
- The Green Deal is expected to be available in late 2012.
Note for editors
- DECC last week revealed lagging rates for each local authority in the UK. A breakdown of how much insulation has been installed in homes across different parts of Britain under the Government’s energy saving scheme, CERT, was released for the first time.