Summary: The Green Deal brings forth an opportunity to get energy efficiency improvements for your property and that too without paying up any extra charges. Along this, government is also offering cash back for you. Undoubtedly, this deal is different from old energy schemes. It involves taking out a loan to help you in repayment for the energy-efficient measures. Read on to know more.
Article Body: The all new way to pay for the energy-saving home improvements is the ‘Green Deal’. Now, you can pay for different measures like loft, cavity or solid wall insulation, a new boiler, double glazing or even a ‘micro-generation’ system like solar panels easily with the help of this astounding deal. Moreover, you can apply for Green deal loans that can be repaid with the savings you make on your electricity bills. And once your loan is paid off, you can enjoy the full advantage of the energy savings.
What are Green Deal Loans?
These loans are different from the standard loans and these have to be repaid through your electricity bills. In these loans, a rule called ‘Golden Rule’ works, which states that the repayments are covered by the energy bill savings that are the resultant of energy-saving home improvements installed by you. Although the Golden Rule is not a guarantee always yet, it is a guideline based on energy-saving estimates. At times, it is also possible that your repayments might be little more than your savings.
Why you need the Green Deal?
To answer this question, it is important for you to know that the households account for around a quarter of the UK’s total carbon emissions. Thus, in order to minimize the effect of these emissions in future it is important to reduce their generation now. This deal attempts to transform the existing buildings into more energy efficient properties. And this will surely make UK more energy efficient in reducing its greenhouse gas emissions which causes risk to the climate change. If stats are to be believed, more than 320,000 households have already gone for Green Deal assessment.
Secondly, the houses and business premises in UK make up to £3 billion of energy every year. And this huge amount is caused due to the poorly insulated properties, appliances left on standby and inefficient use of thermostats by the majority of homes and businesses. In all, they are wasting more on electricity and gas than they are required to do. Thus, to manage the things at such level, UK government came forward with one of the biggest step in the history of energy efficiency, the ‘Green Deal’. It not only offers a unique opportunity to help drive the economic growth but also plays an essential role in helping UK to meet its emission reduction targets sooner.
Although, getting the consumers interested in a deal which asks them to borrow money for investment in transforming their homes into energy efficient houses is easier said than done yet, it is a vital step for securing an eco-friendly future!