THE GREEN DEAL
The Green Deal is the government flagship initiative for reducing the nation’s carbon footprint and save the consumer money on their fuel bills.
The Green deal is government legislation designed to help people make energy saving improvements to their home or business with no or little upfront costs. Green Deal is available to private homeowners, landlords, tenants as well as social housing providers. A huge benefit of the Green Deal is that it allows customers to pay for the costs of their chosen energy efficient measures alongside their reduced fuel bills. This is called the Golden Rule.
THE GOLDEN RULE
The Golden Rule of the Green Deal is: the money saved from your fuel bill by installing an energy efficient measure to a property, will be equal to or less than the loan repayment for this energy efficient measure. Quite simply the loan repayment cannot be greater than the monetary value of the reduction in consumption on your fuel bill by installing this measure. Therefore, this means that you will never be paying more than your original fuel bill. The debt will be placed on the property’s electric meter NOT the person who takes out the Green Deal. If you move house, the debt stays with the property not you.
For example, if your existing energy bill totals £100 per month, and a new energy efficient boiler supplied though the Green Deal reduces your bill to £60 per month, this means that a maximum debt of £40 can be incurred under the Green Deal over the warrantied lifetime of the boiler.
The initial stage of a Green Deal is the assessment, this will be undertaken by a certified Green Deal Assessor [GDA]. The Green Deal Assessor may do an EPC on your property, then an Occupancy Assessment will take place. The two combined will create a Green Deal Advice Report, unique to you and your property.
The GDA will talk you through this report removing and adding recommended energy efficient measures, which are most applicable to the householder.
To find out more, or book an appointment