The green deal is without doubt the largest and important event to happen to the home improvement market since World War 2!
In 1997 the UK government signed on to the Kyoto protocol which ties the UK to reducing its carbon emissions to 80% by 2050. With this in mind the government have to find new ways to reduce our
carbon footprint. As 50% of carbon emissions come from buildings (30% residential & 20% commercial) making our buildings more energy efficient is a must.
The green deal is scheduled to go live in October 2012 and it gives everyone a chance to really make a difference and reduce their carbon footprint and make their homes and work places more energy
efficient with no up front cost to them.
For residential properties, owners and tenants can receive a loan of £10,000 towards making their homes more energy efficient. The loan will be paid back via the savings that will be made from the
energy bill. No credit check will be done on the individual and the loan stays with the property until it has been paid back.
All loans will be subject to the ‘Golden Rule’ and can only be assessed by a qualified Green Deal Advisor and all works must be completed by an approved Green Deal Installer / Green Deal
To view a short video about the green deal please click here.
The Golden Rule simply put is a means to measure what is affordable or not to the home. For instance if a home has an energy bill of £100 per month that is then reduced down to £60 per month due
to the improvements made the property will have £40 per month worth of finance. Whilst home owners will be able to add their own money to the funding, the maximum will be £10,000 available. The
Golden Rule also stipulates that the loan cannot out last the life of the product.
To view a video about the golden rule please click here.
To view a recent video with Channel 4's George Clark (The Restoration Man) about the green deal please click here.