Green Deal Process
From October 2012. This is an assessment that is carried out at your home by a Green Deal Advisor or Assessor. In 2013 date not confirmed yet this will be available to business as well.
the use standardised software program to find what energy efficiency or microgeneration improvements you are able to make and what the financial savings would be
outline how the payments will work
To ensure that the improvements recognized meet the Golden Rule: the payments made for the improvements are not able to be higher than the estimated energy bill savings they will make
Once the Green Deal Advisor has carried out the assessment, they will outline a range of packages obtainable from Green Deal Providers to fund the improvements. If your happy and you want to take up the Green Deal offer you will then sign a Green Deal Plan, .
The Green Deal Provider will then get a Green Deal installer to carry out the work you have agreed to. The installer will have been checked to ensure they meet the standards of the Green Deal.
With the repayment you will pay back the costs of the home improvements over a set period of time through your electricity bill. Your electricity supplier will pass your payments on to your Green Deal Provider. There will be a reduction in energy costs with the amount you pay back as a outcome of the energy saving enhancements you have made.
Although the cost of the improvements is repaid, this is not a regular personal loan as the charge is attached to the electricity meter in your property and paid back through your electricity bill. If you move out, the new occupant will pick up the charge while also benefiting from a more efficient property.
Payments will have interest charged, but the rate will be fixed. The Green Deal has agreed a interest rate of 6 to 8% but this is down to Providers to set. Green Deal Providers may also charge an early repayment fee for plans that are over 15 years but must disclose any fee to you up front.
What improvements will the Green Deal cover?
heating and hot water
microgeneration (generating your own energy ie Solar Panels Solar Thermal).
For the non-domestic sector mechanical ventilation lighting and heat recovery. A technology improves there will be more areas added.
There are a number of measures or areas of home improvement approved to receive funding under the Green Deal