‘Debtors’ to get a fairer Green Deal

The Department of Energy & Climate Change (DECC) recently announced further revisions to the Consumer Credit Act 1974 (CCA), as applicable to Green Deal plans. The intention is that all domestic Green Deal plans will be regulated by the CCA, while non-domestic property will only be affected in certain instances.

In May 2013, following calls from stakeholders, DECC launched its consultation proposing alterations to the CCA for the Green Deal — the government’s flagship initiative to improve buildings’ energy ratings by eliminating the upfront costs of efficiency measures. The basic premise of the Green Deal is that energy-efficiency improvements should be self-funding via electricity and gas bill savings. Certain measures are therefore eligible for a pay-as-you-save financing mechanism, whereby accredited providers install features such as loft insulation for homes and businesses without initial costs. 

Since consumers were first able to sign up to Green Deal programmes in January 2013, DECC has emphasised the importance of consumer protection. This is particularly reflected via the inter-relation between the Green Deal and the CCA. Green Deal plans are, essentially, a type of unsecured loan and interest is charged on the loan…

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