What’s the Green Deal?

Monday 28th January saw the launch of the Green Deal. Its arrival has been long awaited by home owners across the UK who are keen to welcome the scheme and spruce up their properties.  With the focus of transforming properties into more energy efficient places, the Green Deal Scheme will be beneficial to both the environment and property owners across Britain. The process of the scheme will involve a property being surveyed by an accredited Green Deal Advisor, who will have been trained up to government standards. The advisor will then inform the property owner about which Green Deal measures can be taken in order to increase its energy efficiency.

Greg Barker claimed that the Green Deal Scheme will be “the biggest home improvement scheme since the Second World War”; here’s hoping it lives up to its expectations! What is definite is that Britain needs to significantly reduce the carbon emissions it is currently pumping out into the atmosphere. This has prompted the government to set a carbon emissions reduction target of 80% by the year 2050. It appears, then, that Green Deal UK is what is needed to boost the country into taking the essential measures to help achieve this.

Various Green Deal home improvements will be available to property owners, including the installation of Green Deal double glazing, boilers and insulation. Of course, each individual property will have completely differing needs, which is why the role of the Green Deal Assessor is essential to the whole process. Green Deal advice will be informative and personalized to each individual building. After this stage the property owner will be free to choose which installers and providers they want to carry out and finance the work.

This brings us to Green Deal Finance. The Green Deal loan has been devised to avoid home owners having to pay any upfront cost for their home improvements. Any improvements will be paid back through the money the property owner saves on energy bills. Their Green Deal advisor will come up with a Green Deal plan, which will help to calculate the money they will be saving on energy bills. A Green Deal charge will then be added onto their bills, but will never exceed the money they are already saving. This has been referred to as the Green Deal ‘golden rule’.

This allows property owners to significantly increase the value and comfort of their home, whilst simultaneously relieving pressure from the environment, without having to pay the usually unaffordable upfront costs.

Only time will tell whether this scheme will be a winner, but hopefully with enough cooperation it will seriously reshape Britain!

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