May 2011 - What we know about Green Deal so far
Heralded as a “revolution” in the UK energy sector, the Green Deal is the flagship government initiative to increase the energy efficiency of British properties in the public and private sector.
First proposed to parliament in December 2010 as the centrepiece of the Coalition Government’s Energy Bill, the Green Deal will allow private energy firms to provide domestic and commercial customers with double glazing, loft and wall insulation and other structural improvements designed to boost the energy efficiency of their buildings and reduce heating bills.
From autumn 2012, participating energy utility companies and accredited retailers such as Tesco, B&Q and Marks & Spencer will provide customers across the UK with quality-assured work to their homes, businesses and community spaces for no upfront cost, and without loans or advance finance.
The full cost of the measures will be recovered through instalments on the energy bill over several years, and because the Green Deal is not a personal loan or an advance payment scheme, there is no obligation to continue paying the instalments if you move house.
Suitability for the scheme will be assessed on a simple calculation, known as the “golden rule” of the Green Deal - the predicted savings from the energy efficiency improvements to your property must equal or exceed the cost of installation.
The Government is yet to announce full details of the application process. However, it is understood that the first stage will require a comprehensive assessment of the energy efficiency of your property, the cost of which will be covered by the repayment instalments on your utility bill.
More details will become available as the launch of the Green Deal in autumn 2012 approaches.