The assessment will provide the basis to determine whether the predicted savings made by energy efficiency improvements to a property will be equal or greater than the installation cost of these improvements- this is the “Golden Rule” at the very core of the Green Deal finance scheme.
The golden rule is in place to ensure that householders and businesses benefit from cost efficient, energy efficient homes and workplaces without further costs under the Green Deal.
In this way, the installation cost of energy efficiency improvements will be paid for directly by the savings made by increased energy efficiency and will be recouped in clearly set out instalments attached to your bill and spread out over a number of years.
Following the assessment of your property, you will receive a comprehensive quote, clearly breaking down the total cost of energy efficiency installations for your property, the size of repayment instalments attached to utility bills, and the estimated length of the repayment period.
This will be supervised by the objective, accredited advisor that surveyed your property and the work will only be financed if it is carried out by approved Green Deal installers.
Green Deal Finance is available to both homeowners and tenants but written consent from the bill payer and anyone who has an interest in the property (including landlords and freeholders) will be required before the improvement measures are installed.
Although a Green Deal finance plan requested by a homeowner or small business is not a personal loan, it is likely to be considered a fixed term credit arrangement and customers will therefore be protected under the Consumer Credit Act.