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Playing the waiting game

The government’s latest announcement on the Green Investment Bank seems unlikely to have many suppliers or installers of renewable energy technology leaping around with excitement, especially if the decision to include nuclear energy from 2015 has the effect of diluting the benefits.

The government’s latest announcement on the Green Investment Bank seems unlikely to have many suppliers or installers of renewable energy technology leaping around with excitement, especially if the decision to include nuclear energy from 2015 has the effect of diluting the benefits.

Once again the industry will have to wait the best part of a year before it can use the GIB. While we all know the government is struggling to find the cash to fund incentives, despite the reductions announced last year, the various announcements made this year have provided our industry with little tangible benefit. With government cut backs now starting to take effect and combining with the economy’s slow recovery from recession, the HVAC sector needs more than what’s on offer at present.

Increasingly more industry players are joining the campaign to reduce VAT on boilers to 5 per cent, but at the time of writing there had been no response from government. The disappointment is made worse when the figures to support carbon emission reductions, showing how important the HVAC sector is in making this a reality, are frequently referred to by government and industry bodies alike.

We need to see an end to lip service and more definite action before the much promised renewable energy revolution becomes a reality.