As questions surrounding the “Green Deal” and its effect on property owners continue to be asked, news that a leading university has been awarded £350,000 to research the best ways to encourage public participation in the plan will raise eyebrows among many landlords who are still confused by the deal.
Research will last two years
The award to the University Of East Anglia (UEA) comes from the UK Energy Research Centre and will finance research over a two year period. The work will be centred on how the general public can be persuaded to embrace the energy efficient improvements to their homes the Green Deal offers, and national DIY chain B&Q are also to be involved in the project.
Landlord’s fears need to be addressed
The news will certainly interest property investors with landlord insurance, as the question of who will pay for improvements demanded by tenants on a home owned by someone else still has to be answered fully. The prospect of landlords having to buy empty property insurance because their rented properties don’t comply with the new regulations will be a worry for many small private landlords who do not have the capacity to splash out on major home improvements.
The answer to carbon emission problem?
The Government hope the Green Deal will massively change the energy efficiency of homes and businesses across the UK. It is the answer, they believe, to meeting the UK’s commitment on lowering carbon emissions to the required levels and will improve the housing stock of the country immensely. It will be the UEA’s job to come up with ideas that homeowners, businesses and tenants can easily identify with and incentivise them to make the changes.
Profit now, pay later
Most of the work will be centred on insulation with double glazed windows, cavity wall and loft insulation being the three most common improvements the scheme will look to promote. The Government says it has billions of pounds ready to be poured into the project and hopes big business will provide extra cash in the way of loans to ensure the work is done. The Government envisage a policy of “get the work done now and pay later” as the way forward and believe the conversion of UK homes into energy efficient capsules could create up to a quarter of a million new jobs.