The first stage of the Green Deal went into effect, with a full launch
The government announced the Green Deal some time ago, but we’ve heard little since. On October 1, the first stage of the Green Deal went into effect, with a full launch (financing available) set for 28 January. As a reminder, this is the government’s ambitious home improvement programme to create more energy-efficient homes and reduce carbon emissions. The Deal covers 45 energy-efficient measures, including solar panels, insulation, ground source heat pumps, wind turbines and double-glazed windows.
October 1 marked the date whereby authorised Green Deal providers, installers and assessors began listing on the Register and must begin to display the Green Deal mark to demonstrate compliance with standards. To date, the list is still a bit skimpy, but the process has only been open since early August. In addition, it was announced mid-October that homeowners will get cash back from the government for insulating their homes if they do so quickly after the launch. A £125m pot has been established for the incentive.
For those interested in participating in the Green Deal initiative once fully implemented, you will first go through the assessment process to determine which improvements are recommended. This should be performed at no upfront cost to you, but you should double check with the advisor. Once you’ve determined a plan, you can then secure financing through a provider. The provider should advise you on how the financing will affect your energy bill(s), if at all. The goal is to see sufficient savings in energy consumption that the cost from the financing (spread over 25 years) will be fully covered. Finally, you will choose and instruct an authorised installer to make the improvements.
The main advantage of this scheme is there is no means test for the owner. The costs of the improvements stay with the home. If you sell or rent elsewhere, your energy bill will reflect the improvements (or lack thereof) to the property. If you plan to sell, the improvements will offer an attractive incentive to potential buyers.
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