What Does The Green Deal Mean For You?

You may have heard in recent months about the Green Deal initiative that has sprung up, but may not have known what it is exactly. You may have thought that it was a lot of wind that politicians were blowing to fill their quota for giving attention to green issues which their constituents will like. However, it is actually a rather lucrative idea to help improve your home for the better.

How Does The Green Deal Work?

Homeowners and businesses are entitled to a free energy assessment to decide where their property is doing well in terms of producing energy and using what they do have; but more importantly where they could improve and what additions to their property might be of most use to them. This could include the self production of renewable energy, or the wall-insulation in one or more areas of the building. After this assessment, they will be issued with an Energy Performance Certificate outlining the main areas that need attention and how well you are doing right now. You can also be given some advice on other ways you can save energy once your assessor has seen your property themselves.

From there, they can be granted up to £10, 000 to make the changes to their property, with the repayments being made later from what they save on their energy bills from thereon. Work will only proceed if the savings you make on your utility bills from having the work performed will be more than the price to perform them. So you won’t find yourself in a situation whereby you’ve had a lot of work done and don’t get a return on it.

Who Will Perform The Work?

Some companies will be able to keep everything in-house. Companies signing up to become Green Deal providers include well-known brands like M&S and Tesco and don’t have to be a company you’re currently affiliated or signed up with. Once your finance plan was set and agreed on by both parties, providers will be able to put you in touch with a Green Deal installer, who will be accredited to the required standard to perform the maintenance to the property.

Who Will Pay?

The Green Deal installer will be paid by your provider, who in turn will be paid back by you through your repayments which will be added on to your utility bills. The repayments can be spread over 25 years if you so wish. If you decide to move home, your repayments will be passed along to the new tenants who will of course be informed beforehand

What Are The Aims?

The main aim will be to encourage more property-owners to understand where specifically they are losing money on their property each month through their energy usage. It is a long-term plan to improve widespread energy-efficiency across the country. It’s also a great way for property-owners to find out about all aspects of their home; especially those bits which they might be in denial over, have been ignoring, or are out of sight and out of mind (e.g. the loft). Aesthetically, areas of your home which have been neglected and have become somewhat damaged, can be improved.

Paul is currently working alongside a Green Deal advisor to promote the advantages of taking up this kind of work for your home. As someone who is saving to rent or buy his first property, he has a vested interest in keeping utility bills down for the time being.