The Government’s Green Deal launched today
This is a scheme to allow homeowners to have energy saving work carried out on their home and the cost added to fuel bills rather than paying for the work in advance.
We have written quite a bit about the Green Deal in our recent blogs, but here is a quick breakdown:
Pros
Using the Green Deal may allow you to get work done that you wouldn’t be able to afford any other way.
Most households will be eligible to take advantage of the scheme, even if their credit rating would not allow them to borrow the money elsewhere.
The work can only go ahead if it will cost the same or less than the predicted savings on energy bills, called the ‘golden rule’
Interest charged on the money will be carefully monitored to ensure the savings are not eaten up by interest payments
Cons
Changes to your household may meant the savings are not realised – for instance, having a baby would dramatically change the energy consumption in a household.
If you move, then the bill for the work (and savings it makes) stay at the property, but what suited you might not suit new buyers.
Although there are no up-front costs, the assessment company is likely to charge a fee so ask questions and shop around carefully.
Some companies are setting up specifically to take advantage of the Green Deal by using high pressure selling to make sure you sign with them, be careful not to agree to any work there and then, consider it carefully and at a distance, before signing anything.
DIY Doctor’s Green Living section has more information on the Green Deal and other green subjects, which has been developed in partnership with Be Energy Smart.
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