The Green Deal is a government scheme set up to help you make Energy Saving home improvements and find the best way to pay for them.
Examples of Energy Saving home improvements that are available on the Green Deal are -
- Solar PV
- Solar Thermal
- Cavity Wall Insulation
- Loft Insulation
- External Wall Insulation
- Air and Heat Sourced Heat Pumps
- Draught Proofing
- Double Glazing
The Green Deal allows you to make these improvements with little upfront cost and repay the Green Deal through the savings you make on your electricity bill.
The Green Deal has a "Golden Rule" meaning that your Green Deal Repayments will never be more than the savings you make on your bills.
Green Deal Assessments can only be carried out by a Domestic Energy Assessor (DEA) who also holds a Green Deal Assessors (GDA) qualification.
Absolute employ a number of DEA/GDA's who are also NVQ trained in customer service so you know they are not only qualified but are also friendly and helpful.
Only approved Green Deal Approved Installers can install Energy Saving Improvements, to become a Green Deal Approved installer Absolute undergo rigorous auditing and inspections on our Management Systems and install practices.
Absolute are a Green Deal Approved Installer for Cavity Wall and Loft Insulation our Approved Installer number for Loft and Cavity Wall Insulation is - BBAI9100
Absolute are also a Green Deal Approved Installer for Solar PV and thermal our Approved Installer number for Loft and Cavity Wall Insulation is - NICI00041
How much you can borrow will depend on how much of a saving can be expected on your bills.
The Green Deal Loan can be taken out over a period up to 20 Years.
The Green Deal Golden rule will mean that your repayments will never be more than the savings made on your bill.
A Green Deal Provider must tell you how much your repayments will be and the period of time it will take to pay off the Green Deal Loan, you then have the choice of increasing the monthly payments and reducing the amount of time taken to pay off the Loan.
The Green Deal is paid back through your electricity bill as all homes have an electricity meter but not all have gas, properties with pre-payment meters are also eligible.
For example if you were to have Solar PV though the Green Deal and you are expected to save £20 per month on your bills then your repayments will always be less than £20 because of the Golden Rule. However all of the other benefits of Solar PV including the Feed In and Export Tariffs are still paid to you and are not taken into account for your repayments so you will still make money.
The Green Deal Repayment will show as a separate charge on your electricity bill and for pre-payment meters a set amount will be taken off your credit each month.
The Green Deal has many benefits but the biggest benefit has to be the fact you can have the Energy Saving improvements installed at a reduced upfront cost and pay back the remainder of the costs through your electricity bill, remember your repayments will never be more than the savings you make so it will not cost you any more each month.
The Green Deal is a loan against the property not against the person so if you decide a few years into your Green Deal Plan that you wish to move house then the repayments transfer to the new occupier or tenant and do not go with you.
For Energy Efficient Installations such as Solar PV you have a reduced upfront cost and the remainder of the Green Deal Loan is paid through the savings made on your bills but you still get the other financial benefits of the Feed In and Export Tariff which are not taken into account when calculating the repayments so not only will you not be paying any extra on your bills but you will also be receiving the Tax Free Income from the Tariffs.
Landlords are also eligible to use the Green Deal for rented properties.
The benefits to the landlords are that they can make Energy Efficiency improvements to their rented properties with a reduced upfront cost and then the Bill payer (usually the tenants) repay the remainder of the Green Deal Plan through their electricity bills, however under the Golden Rule the repayments will never be more than the reduction in the tenants bill so they will not be paying anything extra each month.
Both the Landlord and the Tennant need to agree to the Green Deal Plan before any improvements can be made and all new tenants must be made aware of the Green Deal Plan.
This could make your property more attractive to new tenants as they will be moving into a more energy efficient property and the property may even let for more each month.
For More Information on The Green Deal For Landlords please view the document below.