Green deal

Fliberdygibbet

Hi all

I just wondered if anyone had done any digging on the new Green Deal that is coming out this year. There does not seem to be a lot of info about it.

Basically I understand its a vehicle for obtaining upgrades to energy saving improvements to the home which are paid for out of energy savings generated. I also heard there is a £150 up front incentive to get people to participate. It's a new gov sponsored scheme.

anyone got any more info?

M

tonytee

I am an assessor and have just passed the upskilling exam as a domestic energy assessor. You will need to have an EPC carried out and this EPC will list the energy saving measures that you can have carried out. Double glazing, boilers, solar panels are the kind of measures that you can have installed without paying any upfront costs. The Green Deal will work as home owners pay for the services through the saving they make on their energy bills. The money is automatically paid to the service providers.

It's supposedly a win win situation for everyone.

rogerblack

It's quite debatable that it's better, for people that can get a loan, and are intending to stay in the property.

Or indeed those who would be interested in doing some portion of the work DIY.

There is an extra built-in layer of profit around this - and the limitation of firms able to do this work for little good reason is questionable.

Inspections are required for many of the projects that would be undertaken anyway.

The payments should be conditional on these inspections being passed, and include the possibility to access funding for DIY projects.

spiro

tonytee wrote: »

The Green Deal will work as home owners pay for the services through the saving they make on their energy bills. The money is automatically paid to the service providers.

This bit is not 100% correct (I am working on GD). The assessor will work out what you will save in 3 categories; elec, gas or other fuels. If the 'repayments' for the improvement is less than the saving you can get a green deal, this is called the golden rule. Once it has been installed your electricity bill will have an extra line item on it; green charges (VAT free) which are a daily amount and you will pay you bill (including gd) as normal.
Unlike a normal loan it stays with the property so you dont have to pay it off when you sell the house unless the buyer insists. It also does not impact you ability to switch supplier unless you opt for a supplier who has less than 250k (expected) customers and they have not opted in to green deal.

ricky9

What happens when you are a home owner and your electric is supplied via a sub meter eg you do not have a electric supplier but pay some one else

spiro

ricky9 wrote: »

What happens when you are a home owner and your electric is supplied via a sub meter eg you do not have a electric supplier but pay some one else

I dont see how you own a property but not have your own meter. I would not allow myself to be in that position because you have no control over who your supplier is.

ricky9

When we bought the property we did not know until we tried to find out who supplied the property.
We have looked into getting our own supply but it will cost us £35,000 yes £35,000 to get it.

spiro

ricky9 wrote: »

When we bought the property we did not know until we tried to find out who supplied the property.
We have looked into getting our own supply but it will cost us £35,000 yes £35,000 to get it.

In that case you can't get a GD because you have no electricity supply account.

spiro

There have been a number of posts recently about people wanting to upgrade ancient boilers etc. For those who don't have the cash and don't want another loan, Green Deal will be starting soon so you may want to consider it. It covers various forms of energy saving measures.

The latest info from DECC can be found here http://www.decc.gov.uk/en/content/cms/tackling/green_deal/gd_customer/gd_customer.aspx

Ken68

It's just a dressed up loan.
And all the safeguards will cost.