seeing heat lost from a house on a thermal imaging camera
The Government’s proposed Green Deal, launched (softly) in October 2012 and then re-launched at the beginning of January 2013, is designed to offset the upfront cost of energy-saving retrofit in existing homes through pay-as-you-save financing.
The cost of improvements is repaid to investors through a charge on the householder’s energy bill, and the idea is that the Green Deal’s ‘Golden Rule’ will mean that the charge to borrow the money up front cannot exceed energy-cost savings.
The costs will be met by Green Deal ‘Providers’ (usually high-street companies) who will then receive repayments from you through your energy bill, subject to the “Golden Rule” that the repayments you make must be smaller than the savings from reduced energy costs.
Importantly, the bill for the work will also be attached to your energy meter, not to you personally, so if you move out of your home at any point after the work is done, it will be the next tenant or owner of the property that will take up the repayments.
Click here for the government leaflet on the Green Deal.
However, questions remain about the scheme’s practical application, the levels of interest have been set at 6.94%, however the actual availability of finance remains difficult, and there are alternative options available on the market. Working with The Green Building Partnership , Brighton & Hove City Council, and other media partners Bright Green Homes have been developing Green Deal Pioneer Places project in B&H and more info can be found by clicking here
Bright Green Homes is keeping up to date with the events surrounding the Green Deal and please get in touch with us if you have questions.
Information from the Department of Energy & Climate Change can be found here
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