The Green Deal
£125m is up for grabs . . . first come first served!
So what is it?
January 28th sees the launch of the Green Deal, but what exactly is it and how can you benefit?
Having some of the oldest buildings in Europe, the British home owner pays a high price for inefficient housing which is often draughty, poorly insulated and leaks heat.
The Green Deal aims to help bring buildings up to date by helping to fund energy efficiency improvements to homes, community spaces and businesses without having to front up the cash! Instead repayments are made through the savings made on energy bills and can be paid back over 20-25 years!
- Aimed at helping fund energy saving upgrades
- 26 million homes could qualify
- 45 different types of improvement currently available
- Up to £6500 available per household which is tied to the home, not the home-owner. If you move, the loan is passed to the new homeowner
- Loan is paid back through energy bills
- Not dependant on income, loans are available to everyone
The ‘Golden Rule’ of the Green Deal? Repayments MUST be less than the money you will save on your energy bills! So the amount you save will always be greater than the cost of the measure.
How does the Green Deal Work?
The Green Deal process has four stages:
- Assessment – Carried out by a Green Deal Advisor / Assessor. They will identify what energy efficient improvements you can make and what the financial savings would be. They will produce a Green Deal advice report outlining your option.
- Finance – Once you have your report you can take it to Green Deal Provider who can arrange to fund the improvements.
- Installation – The Green Deal Provider will arrange for the Green Deal installer to carry out the work
- Repayment – The cost of the improvements are paid back overt time through your electricity bill . The amount you repay will be no more than what you have saved on your heating bill through installing the measures,
Ploughcroft can help you through all stages of the process.
What improvements does the Green Deal cover?
There are currently 45 measures covered by the Green Deal which fall into the following:
- Heating / Hot Water
- Micro generation
Regional Green Deal Cover
For more information about Green Deal availability in your area :