Green Deal To The Rescue

Todays guest posts is all about saving energy…

The cost of energy bills for family homes are increasing rapidly, with most of the major energy companies having announced rising prices over the past few months. Winter has gripped Britain for what feels like a lifetime, leaving many homes chilly, draughty and uncomfortable. Fuel poverty is on the rise, which is where a household spends more than 10% of their annual income on energy bills. It’s a situation that can’t be allowed to go on, with so many families struggling with finances due to this dragging recession.

The government’s latest home-improvement scheme, then, must surely be more welcome than ever. Coined the ‘Green Deal’, this initiative hopes to transform 14 million properties across the country into more energy efficient places that are cheaper to run. The Green Deal Scheme covers 45 measures, all of which will result in savings on energy bills and warmer, brighter homes.

Many that have registered with the scheme have expressed the need for new boilers, insulation and double glazing. These are all measures that can significantly reduce bill-spending, helping homes retain heat and use less energy. The government’s motive for the Green Deal Scheme is an increasing concern over the damage energy-waste is doing to the already vulnerable environment. With a carbon emission reduction target of 80% by the year 2050, a big-scale project like this is needed.

Green Deal home improvements will be financed by Green Deal ‘providers’. The first step of the scheme involves a Green Deal Assessment, which will be carried out by an accredited advisor. They will survey the property and then inform the owner on which measures should be taken to improve its energy-efficiency. Each property that has any Green Deal work done on it will receive a loan, which will be paid back through the savings the property owner makes on energy bills. A charge will be added onto bills for this work, but will never be allowed to exceed the money they are saving because of the home improvements.

This couldn’t come at a better time, and will act as a saving grace to those currently in desperate need for home-renovations but can simply not afford the upfront cost. Further, the Green Deal loan will be attached to the property, not the person, meaning that if they wish to move house they can without carrying the burden of the loan on with them.

It’s an interesting scheme and only time will tell of its success, but here’s hoping this will help families save and help the environment.

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