The Governments new Green Deal Grant funding system for Exeter homes. Mony for loft insulation, cavity-wall insulation, help and advice...
The planned new Green Deal Grant funding system, coming October 2012
If your happy South Devon home is not a newly built home, that is, not built in the past twenty or thirty years, then you may well be living in housing stock from the 1940s or earlier. These properties are solidly built, but are not usually energy efficient (they cost a great deal to heat). If you live in such a home, pehaps on the coast, then you may well be entitled to a new Government Green Deal grant, but that grant is not simply a handout as many believe, that grant is a type of loan, the repayment of which is added to your home as an attachment for hwen you sell it, and your electricity bill will be altered to start collecting the cost of the work undertaken. When you sell your home, in years or decades to come, you or your children will have to repay the cost of the energy efficiency grant less the balance already paid
The benefit of the new Green Deal grant scheme is that you would pay little now, and for the next decade you save money by benefitting from the energy savings, but the cost savings of a lower electricity bill will be offset by a repayment factor being added back onto your household electricity bill. That bill should reduce with the energy savings, and then rise again with repayments for the work done.
The government's stated "golden rule"
This is a stated principal (as well as being something of a hope) by the UK government, that the initial cost of the insulation work carried out should be covered by the energy savings witnessed across many years. Naturally, you will have to live at the property for at least 5 years or more to balance the savings against the cost of the work carried out on your home.
"The Energy Act 2011 includes provisions for the new UK energy company Green Deal, which intends to reduce carbon emissions cost effectively by revolutionising the energy efficiency of British properties. The new innovative Green Deal financial mechanism eliminates the need to pay upfront for energy efficiency measures and instead provides reassurances that the cost of the measures should be covered by savings on the electricity bill."
Energy efficiency grant funding for business properties
The governments new Green Deal Grant funding scheme is not just for South Devon homeowners, it extends to businesses as well. There are many small businesses that work out of large and old housing stock, such doctors, dentists, solicitors, accountants, all working out of premises that were once domestic residences.
There would have to be a property assessment made, as with a domestic property, and the "Golden Rule" would still be applied, in that the cost of the planned improvements undertaken should not exceed the expected savings gained over many years.
In a somewhat controvertial move (that will see many problems and some legal action no doubt), a tenant business may (supposedly) gain the Green Deal without permission from the landlord, despite the fact that the tenant business would have signed a lease agreeing no major building works without the consent of the landlord. The two fly in the face of each other. The landlord, however, must seek the tenant's permission for works for commence.
Government appointed sellers and installers (a.k.a. the large energy companies minions)
Both domestic and business applicants for the new Green Deal Grant funding scheme will need to make use of only accredited sellers and installers, they cannot have the work done and apply retrospectively. Beware of builders making claims, and of assessors that are not qualified. If you have work done that is not agreed and properly licensed then you will have to pay for it as normal.
When a homeowner applies for Green Deal Grant funding they are not applying directly to the UK Government or dealing with the Government, you are dealing with middle men as sellers of the Green Deal. Such people are (hopefully) accredited and licensed by the Government.
The planned long term benefits
If you live in an old property (that gets very cold during the Bristih winters on the coast) and you plan on staying there for 10 years or so, finally leaving the property to your kids, then you may make back several times the value of the work done to make the property energy efficient. The longer you stay, the greater the savings, it's as simple as that.
Summary of the new funding scheme
If your house or cottage is old and cold, and it costs you a fortune to heat each winter, then you may want to spend money on energy efficieny. The capital cost of that work might put your off, and you may not be able to afford it right now. The Green Deal allows the work to be done for no upfront payment, but an increased or level electricity bill for many years, and finally when you sell the property any remaining balance is paid off.
The benefit will be that you will (hopefully) be warmer of a cold winter's night, not that you'll have a great deal more money in your pocket each week, but the hope is that you will also save some money from the energy efficiency. And, collectively, we all benefit from less carbon emmissions - which is a good thing.
Green Deal Grant, required home surveys
In order to qualify for the UK government's new Green Deal Grant scheme, you will first need a survey carried out of your home or business, and you will need 3 seperate quotes for the proposed energy efficieny work to be done. Those quotes will need to be sent to the seller of the Green Deal, who is not the person doing the building work - they are seperate.
A Green Deal advisor/seller is qualified and accredited to carry out the work, and may work for a Green Deal Supplier such as an energy company. That advisor will inspect your property and make an assessent, giving you a written assessment, and they will highlight your various options under the Green Deal.
If you already have cavity wall insulation, and your loft if properly insulated, then there may be little left under the Green Deal that you can benefit from, except solar panel and solar thermal systems. You will need to ask your advisor for details of qualification.
Note. If your property is a modern build, and already has an energy efficieny rating, then there will be little under the scheme that applies to you (you need to live in an old house).
Green Deal Grant funding packages
Many UK homeowners (and even some private tenants), will son be able to receive energy efficieny improvements under thsi proposed new scheme, all enjoying the benefit of no upfront costs.
The value of the planned insulation work to be done will be added to the properties energy bills, as well as an attachment against the property for when it is sold. It is hoped that electricity bills will not rise much after the work is done, and that the cost of the work will be spread over many years. It is hoped, by the government, that each recipient of the deal will be better off.
Typical insulation work will cost from £5,750 - £8,750, so you can imagine that will take a long time to pay off that amount as a small amount added to an electric bill. The householder should be much warmer, but will see the energy savings paid for as part of a highter electricity bill.
Background to the UK Government's Green Deal Grant scheme
The Energy Act 2011 included provisions for the UK Government's new Green Deal, which aims to reduce carbon emissions cost effectively by revolutionising the energy efficiency of British properties, by retrofitting older properties with cavity wall insulation, loft insulation as well solar PV or solar thermal systems.
The Green Deal financial grant system aims to eliminate the need to pay upfront capital costs for energy efficiency measures and instead provides the opportunity for the cost of the work done to be covered by savings on the energy bill.
Note. Those proposed savings will be negated in part by an increase in energy bills to cover the cost of the work. The Green Deal is not a freebie, you will have to pay the cost of the building work back.
"ECO" - Energy company obligation
A new Energy Company Obligation will operate hand in hand with the proposed Green Deal, allowing supplier subsidy and Green Deal Finance to come together into one seamless offer to the householder.
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