All owners of solid wall properties will qualify for some financial assistance under the finalised terms of the Government’s Green Deal according to the final draft version of the scheme.
After 2 years of waiting the scheme finally launched in January 2013 with the first energy saving improvements being fitted to homes later in 2013.
As predicted the main focus is on insulating all exterior parts of the home with the secondary emphasis being on efficient heating systems. In some cases double glazing and loft insulation are also included.
How The Green Deal Works
The whole process starts when a licensed Green Deal Advisor- such as Mike Dinmore- carries out an energy efficiency survey of the house and then produces a report containing recommendations to cut bills and save energy.
The home-owner then uses the report to obtain quotes for any work they want doing from an authorised Green Deal Installer.
Once they know the costs, they approach a Green Deal Provider to see how much of the cost is covered by a free grant and how much they will have to finance themselves either through their own funds or by using a Green Loan from one of the Providers.
If they use a Green Loan the repayments are added to the electricity bill and are collected by the Electricity Company and sent to the Green Loan Provider.
Customer Protection Guaranteed
The Government has introduced the “Golden Rule” to protect the home-owner and this states:
The costs of any Green Deal recommendation shall not exceed the expected reduction in energy bills over the term of the Green Deal.
In other words the home-owner will not be financially disadvantaged by upgrading their home as the bill savings should always exceed the cost of the work over the period of time the Green Deal was taken out over.