Green Deal 2017 Relaunch
The Government's Green Deal energy efficiency scheme was launched in 2013, withdrawn in 2015 and returns as a private enterprise in June 2017.
Green Deal Loans are available to fund energy efficient home improvements, with loan repayments covered by savings made from reduced heating bills.
Green Deal Finance can be used in two ways:
Green Deal 2017 Finance can help you whether or not you qualify for an Affordable Warmth Scheme ECO Grant to upgrade your heating system or install insulation.
1. I qualify for an ECO Grant but it doesn't cover the full cost of installation
2. I don't qualify for an ECO Grant but my heating system is not working
You can apply for Green Deal 2017 Finance to pay for a new boiler, new storage heaters or to install insulation in your home.
There is no deposit and you do not repay the loan directly. Repayments are covered by savings made in your heating bills.
What is the Green Deal?
Green Deal 2017 offers loans for energy efficiency improvements such as new boilers, electric storage heaters, and insulation in domestic properties.
The idea is that the repayments are paid for by savings in heating bills as a result of making your home more energy efficient. This is known as the Golden Rule.
Why was it withdrawn in 2015?
The Green Deal was withdrawn in July 2015 due to a low take up of loans by around 13,000 householders. Those loans are unaffected by these changes.
The National Audit Office concluded that it increased costs for energy companies and customers ‘without any meaningful benefit’.
Why has it been relaunched?
The Government has sold the Green Deal Finance Company to private investors who intend to make changes to improve how it operates.
The new owners intend recruit more installers to the scheme and to improve marketing of Green Deal 2017 to better inform potential customers.
One of the criticisms of the original Green Deal was that it was too complex and took too long from initial enquiry to installation.
The new owners intend to simplify the way Green Deal 2017 operates and add new energy efficient products to the scope of the deal.
How can we help?
We work with a network of accredited companies around the UK who install:
- Electric Storage Heaters
- Gas, Oil, LPG and Solid Fuel Boilers
- Air Source Heat Pumps
- Cavity wall Insulation
- Loft Insulation
These companies are already accredited by ECO and have Affordable Warmth Scheme funding to arrange ECO grants to help householders install the above products.
Some installers have been accepted into the Green Deal 2017 Scheme and others are in the process of joining it.
We can introduce householders to companies which can offer both ECO Grants and Green Deal 2017 Finance so that the process runs more smoothly. We also intend to widen the range of products we cover to include:
- Solar photovoltaic panels
- Solar thermal water heating systems
- Heating controls
- LED lighting
- Battery storage systems
Who is Green Deal aimed at?
The main market for the Green Deal 2017 initiative is expected to be owner occupiers who need to upgrade their heating systems but can’t afford to. With the Green Deal this group of people can have a new boiler or electric storage heaters installed with no upfront cost.
Additionally, from next year all rented homes must have an energy efficiency rating (EPC) of E or above. Green Deal 2017 offers a way to upgrade heating and insulation in rented properties with upfront cost to either the tenant or the landlord.
Green Deal 2017 - Eligible Products
Green Deal 2017 Heating Systems
- New or Replacement Boiler (gas, oil, LPG, solid fuel or biomass)
- Ground Source and Air Source Heat Pumps
- Innovative Hot Water Systems
- Fan Assisted Electric Storage Heaters
- Flue Gas Recovery Devices
- Heating, Hot Water and Lighting Controls
Green Deal 2017 Insulation Products
- Cavity Wall Insulation
- Loft Insulation
- Floor Insulation
- Solid Wall Insulation
- Draught Proofing
- Heating System Insulation
Green Deal 2017 - Eligibility for Green Deal Plans
Applications for Green Deal 2017 Finance must meet the following criteria:
- Applicants must be at least 18 years old
- The property where the installation will occur must be a fixed address in England, Scotland or Wales.
- Applicants must consent to a credit check.
- Applicants must provide a recent copy of their Electricity bill (within the last 6 months)
- If you are a tenant, you will require your landlord’s permission.
- If you are a landlord, you will require your tenant’s permission.
Green Deal 2017 - 4 Simple Steps to Saving Energy
1. Green Deal Assessment
An Accredited Green Deal Assessor will visit your home and prepare a Green Deal Advice Report.
This will recommend which energy saving home improvements will pay for themselves through lower energy bills over their lifetime.
Arrange your Green Deal 2017 Assessment today.
2. Green Deal Plan
The measures which you have chosen from your Green Deal Advice Report will go into your personal Green Deal Plan.
This sets out the work to be carried out, the repayment amounts and interest rate chargeable.
We’ll then help you to complete your Green Deal Finance Application.
3. Green Deal Installation
Once your Green Deal Finance Application has been approved you will receive a Green Deal Plan document pack explaining what happens next.
After you have reviewed and approved this we will arrange for a Green Deal Accredited Installer to fit your new energy efficient products.
4. Green Deal Repayment
Your Green Deal Plan repayments will be added to your electricity bill but the repayments should be no more than the amount you save due to improved energy efficiency.
This is known as the Green Deal ‘Golden Rule’, that is, repayments will be no more than savings made due to improved energy efficiency.