What is the `Green Deal’?
The Green Deal is a new government scheme that allows homeowners to install energy efficiency improvements with no upfront cost. The work is financed through a low interest, unsecured and flexible loan, that is attached to the property (the energy meter to be specific) and can be spread over the expected lifetime of the improvements (eg a boiler, 12-15 years). The loan repayments are then paid back through the energy bills and stay with the property, not the individual. A specific test is applied to Green Deal finance that states; the loan repayments must not be more than the savings made on the energy bill, making the homeowner better off from day one.
You may also be eligible for a grant towards the improvements under the Energy Company Obligation. See Action Surrey pages on insulation and boilers for more information on the subsidy that may be available to you.
The process behind the Green Deal is as follows:
Get an assessment of your property to see what improvements you can make and how much you could save on your energy bills. Contact Action Surrey today to find out about getting a FREE Green Deal Assessment worth £150. This offer is strictly limited to the first 2000 households and available until 15th March 2013.
Choose a Green Deal provider to carry out the work. You discuss with them what work you want done and whether the Green Deal is right for you.
If you go ahead with the improvements you must sign your Green Deal Plan – this is a contract between you and the provider stating what work will be done and how much it will cost. The provider will then arrange for a Green Deal installer to do the work.
Once the work is done, you’ll pay off the money in instalments through your electricity bill.