What is the Green Deal and what can it do for you?

At the time of writing, it’s March and in most parts of the UK it’s a quite frankly astounding 20 degrees outside. There is little doubt that the significant number of people who warn us year on year as to the perils of global warming, will be smiling smugly at such unseasonal warmth.

Of course, a balmy March is no proof in itself that Global Warming is a very real and immediate danger. Indeed, the record temperature for this time of year was established over forty years ago and there were quite possibly warmer days long before records began. That said, as these warm springs continue to be a regular occurrence and other evidence lends weight to the theory of Global Warming, it would be silly to not try everything in our power to reduce the potential for catastrophe.Green Deal

This is all very well and good, but how is this relevant to the average home owner and reader of this blog? Well, following a commitment in 2008 to make the UK a ‘low carbon economy’, the two subsequent governments have put in place a number of initiatives to reduce greenhouse gas emissions by 80% by the year 2050. One the main initiatives in the plan is the Green Deal.

The central aim of the Green Deal is to improve the energy efficiency of homes and business premises in the UK as the two together account for roughly 50% of all carbon emissions in the UK. That said, making a home energy efficient is easier said than done and can be a rather expensive business; this is where the Green Deal comes in.

As an incentive to homeowners wishing to make their home more energy efficient, the Green Deal will provide loans of up to and around £10,000 which will have no up-front cost and will be paid back with minimal interest through electricity bills. The loans will be spent on a variety of different areas in the home such as wall, floor and loft insulation, double glazing and energy efficient boilers.

If the Green Deal sounds like something you’d be interested in, here’s how it’ll work. Following its launch in the Autumn of 2012, homeowners (and commercial property owners) will be able to register interest with a Green Deal Assessor who will visit the relevant building and evaluate its eligibility for the scheme.

Should their property prove to be a suitable candidate, its owner will then be subsequently pointed in the direction of local Green Deal suppliers who, upon agreement of a quote, will carry out the work required. With the work complete, repayments on the loan will immediately commence through the property owner’s electricity bill. It’s really that easy.

Ultimately, the Green Deal will mean that bills are lower, buildings are warmer and the environment stands a better chance in the long run! Everyone’s a winner.