The government's flagship Green Deal programme to transform the energy efficiency of the UK's buildings and homes was launched earlier this week (January 28th) but not everyone is convinced it will be a success.
It promises to allow households and businesses to undertake wide-ranging property enhancements to improve their energy efficiency at no upfront cost.
However, some companies have warned that the scheme will have to overcome a plethora of teething problems if it is to have the transformational impact that ministers are currently predicting.
Indeed, energy and climate change minister Greg Barker said the Green Deal will transform the energy efficiency market in the UK and put consumers in charge of it.
Energy and climate change secretary Ed Davey added that the scheme would provide a major boost to both the UK economy and its emissions reduction efforts by tackling the 38 per cent of national emissions that are currently attributed to draughty buildings.
It is hoped that companies and homeowners alike will use the scheme to install things such as double glazing and loft insulation to aid in this, however, there are other steps that consumers can take to save money on their energy bills.
For instance, consumers can purchase energy efficient outdoor wall lights or ceiling spotlights as a way of cutting the amount of electricity they use, which in turn would reduce the size of the bill each month.
Chief among the critics' concerns of the Green Deal is the high interest rate for loans, which will range from 7.67 to 7.96 per cent depending the length of the loan.
It is entirely possible that households will end up paying twice the amount of the initial loan in repayments.
Chairman of the Residential Property Surveyors Association Alan Milstein said some customers could consider funding new measures themselves.
"With early repayment penalties and the uncertainty surrounding how having a Green Deal loan attached to your property will impact on the future saleability of the property, for many homeowners it may be advisable to look at alternative ways to fund any energy efficiency," he continued.
