Not too long ago, the government announced a scheme that would actually help make homes more energy efficient all over the UK. The government believes that this would be a great opportunity for homeowners, and that many people would take advantage of it. However, with less than a week to go before the launch of this scheme, only five households have signed up with this new scheme. This could become one of the least popular schemes ever.
The scheme, which is known as the Green Deal Project, is offering households the chance to take out a loan of £10,000 to make their homes more energy efficient. Not only that, but people get to pay off this loan over the course of 25 years and only pay as much on the loan as what they are saving on their electricity bills.
Although the scheme sounds good on paper, homeowners don’t seem to want any part of it. In fact, only five households have agreed to take part in this scheme, and it is supposed to launch next Monday. There must be something about the scheme that people don’t like, and the government is seeing this firsthand. After all, the government expected a much bigger turnout than just five signups.
Right now the government needs to find out why no homeowners are expressing a serious interest in the scheme. What is making them avoid it? So far the government has gone out of its way to recruit some of the biggest named DYI stores in all of Britain. They felt that the popular names would make consumers more likely to sign up. However, that does not seem to be the case.
According to some homeowners, this new loan could make it tougher for them to sell their home if they want to during that 25-year loan. After all, the £10,000 debt is secured to the home rather than the individual. So, when someone moves, they actually leave their debt for the next person that moves in.
The government had first said that they hope about 14 million households would sign up for this scheme. Thus, they were shocked to find out that only five have done so. This is going to make it harder for the government to reach its vow to reduce carbon emissions in the country by a certain amount.