The Department for Energy and Climate Change has agreed to make a £7 million loan to the Green Deal Finance Company (TGFDC) so the organisation can provide low cost finance in early 2013.
Green Deal providers will be able to access finance through TGDFC, enabling them to offer low cost finance packages for clients upgrading homes or commercial buildings under the Green Deal.
Danny Alexander, the Chief Secretary to the Treasury, announced that the Green Deal is also being considered as an early candidate for the use of infrastructure guarantees. Infrastructure guarantees will provide guarantees for major UK infrastructure projects and could potentially support up to £40 billion of investment.
From today, the register for Green Deal providers, assessors and installers will also open. The register will give the seal of approval to businesses that successfully go through the Green Deal authorisation process.
All authorised Green Deal providers, assessors and installers will have to display the new Green Deal Quality Mark to demonstrate they comply with the required Green Deal standards. DECC said this will be vital for protecting customers from any rogue traders.
Energy and Climate Change Minister Greg Barker said: ''I'm delighted to announce a number of important developments for the Green Deal today. The opening of the Green Deal register will enable businesses to start becoming Green Deal authorised and the Green Deal Quality Mark will show they have met our standards. Crucially, this will protect consumers, who will know that anyone displaying the Quality Mark has been through the required process to become authorised.
''The loan we have agreed with The Green Deal Finance Company will help them to undertake essential development and be ready to offer finance to Green Deal Providers in early 2013.''
Earlier this year it was revealed that domestic lighting would not qualify for finance under the Green Deal scheme, but DECC said lighting companies operating in the non-domestic arena could still set themselves up as authorised Green Deal providers. To find out about the process for becoming a Green Deal provider, click here.
