The Green Deal: What is it?


There has been lots of talk in the media and other industry news about the Green Deal. As it’s due to launch in October 2012 we will see and hear more about it over the next few weeks but what does it mean for the people?

The team at Select 1 have been keeping up to date with the developments and understand what the initiative is, who it is aimed at and how it will benefit people. I’m not so sure that the general public, that is the people who the Green Deal is aimed at, do know what the Green Deal is and how it can help them, so here is some information for those people.

 

  • The Green Deal is a programme designed by the government, as part of the Energy Act 2011, to reduce carbon emissions by transforming the energy efficiency of properties across the UK.
  • The programme will give householders and business owners the opportunity to improve the energy efficiency of their properties.
  • Householders will be entitled to £10,000 to invest in energy efficiency home improvements.
  • Business owners will be entitled to higher amounts as there is no upper limit on what they can borrow.
  • There will be no up-front costs.
  • The loans will be paid back through the energy bills over a time period agreed by the property owner that is no more than 25 years.
  • Even with repayment costs energy bills should still be lower than they were prior to improvements.
  • If the property owner sells their house the repayments are passed on to the new owner.
  • To qualify for the Green Deal finance an assessment must be carried out by a recognised Green Deal Assessor.
  • The Green Deal initiative provides loans to householders and business owners to allow them to improve energy efficiency in their property. The loan can therefore be spent on the following:-
    • Cavity Wall Insulation
    • Flat Roof Insulation
    • Loft Insulation
    • Solid Wall Insulation
    • Condensing Boilers
    • Heating Controls (Room Thermostats, Thermostatic Radiator Valves (TRV’s))
    • Insulated Doors
    • Windows (Double Glazing)
    • Lighting
    • Micro power generation
      • Air Source Heat Pumps
      • Ground Source Heat Pumps
      • Micro Combined Heat and Power
      • Solar Photovoltaics (PV)
      • Thermal Solar Power

 

The Green Deal Initiative has just launched a great infographic which gives a clear explanation of how it works and how it will benefit you – take a look Green Deal Infographic.

 

The information used in this article has been taken from the Green Deal Initiative and the Department of Energy and Climate Change. For more information you can visit http://www.greendealinitiative.co.uk and http://www.decc.gov.uk/en/content/cms/tackling/green_deal/green_deal.aspx.

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