The Green Deal
You may have heard a lot of information about the Green Deal recently. It has certainly received a lot of attention in the press. If you want to know more about it and how it works, this page should provide you with all the answers you need.
What is the Green Deal?
Many people would be more open to improving their homes so they could spend less on energy, but they cannot afford the sometimes huge costs associated with doing so. This is where the Green Deal UK comes in. It helps provide the cash needed for these costs and lets you pay it back over time through your energy bills.
Some of the examples of improvements that could be made include the installation of a new and more efficient boiler, double glazing and loft insulation. There are several others as well, so you can see your home could be vastly improved in terms of becoming more energy efficient if you take part in the scheme.
How Does the Green Deal Work?
The main thing to remember with the Green Deal Scheme is that it only allows you to opt for those improvements that will save you more money than you’d pay out for them. For example if the cost of a new energy efficient boiler would be £50 a month under the scheme, you’d have to save more than that each month in order to qualify for the deal.
The deal provides a way to find a loan for the cash you need to make the best improvements to your home. The initial assessment will determine which measures would benefit you the most, so you will know exactly which ones you can reap the biggest rewards from before you agree to have anything done.
Will it save me money?
This is arguably the biggest and most important part of the Green Deal explained. The deal itself has a golden rule, which says the only improvements you will be funded for will be those that will save you more than you pay for them.
Since you will pay back the cost of these improvements on a monthly basis, you must save at least the amount you will pay at the same time. Ideally you will save more than this, so your energy bills could be lower than they were before the improvements – even though you’re paying back the loan.
Another big perk of the deal is that it will help you ensure your home loses less heat than it does at the moment. Many homes in the UK lose a lot of the heat they generate. This means you could benefit from taking steps to insulate your home and make it more energy efficient.
It is also worth mentioning you may be able to have more than one installation if it is calculated that two or more improvements could save you a significant amount on your energy bills. For example you may currently have single glazing and an old boiler. If your assessment determines you could save enough money by installing double glazing and a new highly efficient boiler, you may have both of these installed. The ceiling on the amount you can spend on these improvements is £10,000, so you can see this can go a long way.
How to Apply
The first step in applying is to get an assessment of your home. This means a Green Deal assessor will visit your home and inspect it carefully to see how energy efficient it is at present. This inspection will also identify where it could be more efficient. In turn you will discover which energy improvements could benefit you in the future by keeping your home insulated and warm, and reducing the amount of energy you would need to use to heat it.
There will usually be a small charge to cover the cost of the assessment. However some assessors will reimburse you if you go ahead with the work through their company. You may want to check this prior to choosing your recognised assessor for this job.
Green Deal Providers
If you decide to get any work done that has been recommended during the assessment of your home, the provider you choose must be Green Deal approved. This basically means they have been approved to provide these measures under the term of the deal. There is a register of providers that contains the contact details of all those companies that have been approved to provide the improvements indicated as part of the deal.
As you can see, this deal has many benefits for homeowners. In theory you should never have to pay out any more in a month than you currently do via your energy bill. And when it comes to saving money on energy and becoming more efficient, you can see just how beneficial this can be.