Campaign group urges further green investment

September 9, 2013

In an effort to further promote the possibilities of sustainable energy and growth in the UK, the Green New Deal campaign group has called on the government to provide £50 billion for new technology, cheap housing and home insulation. 

The group has suggested that the UK is heading towards a new economic crisis, and further investment should be provided to prepare the country for an energy efficient future. The move could also see a number of jobs created as a result. 

Despite consecutive quarters of GDP growth, the group has called for an alternative approach to Britain's business model. 

A report from the organisation has suggested that the investment in sustainable energy systems and policies over the next five years will help to expand green technologies, whilst providing low cost housing and insulation for thousands of UK homes. 

The money for this policy could be provided by scrapping the controversial HS2 rail project and further attempts to crack down on tax evasion. 

A British Investment Bank has been suggested by the Labour Party to boost lending to businesses, especially those looking to install carbon-efficient technologies, but otherwise, many of the Green New Deal's suggestions have been left unheard. 

However, businesses and households looking to install carbon efficient technologies still have a number of options to do so.

The renewable heat incentive (RHI), for both businesses and residential properties, can provide support for those looking to install energy-efficient heating systems. Payments are provided on the basis of how much energy the system can provide, how much of it the user accesses for themselves, and the type of technology that is installed. These are then spread over a period of 20 years.

Furthermore, the feed-in tariff also provides households with regular payments based on how much energy is produced and fed back into the National Grid. While the rates or returns have recently been reduced, they will remain at their current level until 2014.

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