Friday, 23 March 2012

What is the Green Deal?

The Green Deal is the new government initiative that is designed to aggregate business and home owners to employ more green technologies in their properties. The idea is simple; install new green technology into your property with no up front costs. You will pay back the costs through your energy bill over a period of time.

This is unlike a conventional loan because if you move out of the property the bill stays with the property where the savings are occurring and not with the bill payer. The “golden rule” of the Green Deal is; the expected financial savings must be equal to or greater than the costs attached to the energy bill.

Key to the government’s thinking is that the building stock in Britain is some of the oldest in Europe and to bring it up to date, it needs to be properly insulated. Once the buildings are properly insulated, occupiers will spend less money on heating them. This is why the government has linked the energy companies to the scheme.

Green Deal for Home Owners The Government is aiming the Green Deal squarely at homeowners and reto fitting as many older type properties as is possible. The biggest winners are going to be the older style properties built prior to the 1920′s. There is a limit of £10,000 for domestic home owners at present.

Homeowners will be able to install the following types of green measures;

•Wall insulation both solid and cavity walls will be covered.
•Loft insulation
•Double glazing
•Door insulation
•Smart meters

The above measures are aimed at reducing demand on your energy, once these have been installed it will cost you less to heat your home thus cutting your energy bill.

The other types of measures that will be covered by the Green Deal are ‘energy in’ measures these will include:
•Solar power, both Thermal and Photo Voltaic panels
•Air and ground source heat pumps
•Biomass boilers

Because these types of technology use less power to heat your water and home, the idea is that you will be cutting your energy bill in the long term.

Each property will have to be rigorously inspected by a Green Deal accredited advisor to see which measures will return the best results. The Green Deal for homes will enable up to 26 million homes to be upgraded over the next 25 years.

Once the assessment has been made of the property the advisor will make suggestions to the home owner of Green Deal providers and Green Deal Plan will be written outlining the work to be carried out. All Green Deal providers and materials will have been through a series of tests to ensure that the homeowner can expect a standard of workmanship and quality regardless of the tradespeople involved. All the work will have a warrantee as well as all the materials used in the installation giving the home owner peace of mind.

Find out more about The Green Deal.

And here are two videos which might prove useful: