The Green Deal is a government initiative designed to help people make their homes more energy efficient. It funds improvements – such as solid wall insulation and new heating systems – through the savings that are made on energy bills. The Green Deal has been set up by the Government to help improve the energy efficiency of homes and buildings. The scheme allows private companies to offer you energy saving improvements at reduced upfront cost. It is based on a ‘Pay As You Save’ principle where you pay back the cost of your home energy saving improvements over time, using the savings you make on your energy bills.
Green Deal finance will only be available where the energy saving improvement you want to install, and the amount of finance you need to do it, meets the ‘golden rule’. The golden rule states that repayments on the finance should not be greater than the savings the improvement makes to your household energy bills. This means that a Green Deal customer should not be out of pocket for the improvements but they will have a warmer, more energy efficient home.
You will need an authorised Green Deal Assessor to carry out your assessment, which we can provide for you. They will visit your home and produce a Green Deal Advice Report listing the improvements that are possible, and which of these are likely to be cost-effective.
Once you have the recommended measures, our Green Deal Provider will produce your Green Deal Plan. From this, the Provider will be able to offer you a loan to pay for some, or for all of the cost of the energy improvements in your home. You then repay the loan, which will include interest, through a charge added
to your electricity bill.
Other schemes such as ECO and the Home Improvement Fund can also help contribute towards the cost of the installation. To find out more about Green Deal Finance and the potential grants you may be eligible for, call one of our friendly advisors today.