What is the Green Deal?
Green Deal is a new government initiative which aims to help the UK government's targets of reducing carbon emissions by 2050. 25% of the UK's total carbon usage comes from energy used within family homes, and another 25% comes from businesses, industry and workplaces.
How does Green Deal work?
The idea behind the Green Deal initiative is to allow home & business owners to install energy-efficiency measures and pay for the improvements using the savings on their fuel bill. So, while you do not need to pay anything up-front to take part in the Green Deal, you will eventually repay the costs. However, because you are paying using the savings on your energy bills, it doesn't cost you anything and once everything is paid for, you will have a much better efficiency-equipped home or business and can continue saving for the rest of your occupancy. The repayments are set up by having a charge attached to your meter and the costs will automatically be paid back through your fuel bills.
What happens if I move home or offices?
The Green Deal considers the possibility that you may wish to move in the future and would then no longer benefit from the efficiency measures that you have previously taken. If you move out, the new occupant would pick up the charge of the improvement costs through their fuel bills, but they would obviously be benefiting from the extra-efficiency just as you were.
How do I apply for the Green Deal?
The Green Deal is due to be launched in late 2012, so come back later in the year and we will be able to provide the relevant information.
What is your opinion on the forthcoming Green Deal initiative? Do you think it will help reduce carbon emissions or do you see problems with the proposal? We'd love to hear your comments using the form below.