The Green Deal scheme is being prepared for an autumn launch and the Government are still making alternations to their flagship energy programme. And now the DECC have confirmed Green Deal discounts could be made available, in the form of one-off cash payments.
The scheme hasn't been met favourably by the general public thus far, with many unaware how it will work and 80% of the UK suggesting they would not be interested. This is bad news for the Government who have pinned their hopes of making Britain energy efficient with £200 million of funds.
The scheme will provide the upfront payments for those wanting to cut their energy bills with insulation such as replacement boilers, double glazing, loft lagging and wall cavity insulation. This loan will then be paid back monthly.
The lowdown on the Green Deal
The scheme will work by supporting homeowners in the purchasing of energy efficient home improvements that will reduce household bills
This Government loan will then be paid back monthly, on the basis of how much is saved on energy bills
Rather than being a personal loan, it will be attached to the property
Whilst this sounds like the perfect opportunity, you should be wary. The scheme has attracted criticism over its repayment plans, with proposals working out figures on a national average rather than on a personal level.
Green Deal discounts
To counter the general animosity over the Green Deal, the Government are putting plans forward for Green Deal discounts, which would work as a cash back system.
The Department of Energy and Climate Change (DECC) want one-off payments to be made to those who take up the scheme early.
The scheme, which has been billed as the biggest home insulation project since the Second World War, will have £200 million available for those willing to take part. £30 million will be available in the current financial year with a further £170m ready to come in next year.
A DECC spokesperson confirmed speculation surrounding Green Deal discounts, saying the Government is "looking at some kind of cash back scheme that would reward people who take up Green Deal measures."
The DECC are targeting 14 million UK homes to benefit from loans but there are fears homeowners simply won't see the scheme as an attractive prospect.
Should I replace my boiler with the Green Deal?
Whilst the Green Deal offers a way out of making upfront payments, the prospect of paying back more than you save should certainly ring alarm bells. Investing yourself is the better option and with a new boiler:
Cut your heating bills by as much as £300 a year, with an efficient system that converts more fuel into heat
Ensure your home is warmer in the winter and breakdown risks are reduced. An old boiler can fault at any time leaving you without heat and hot water, so investing in your own boiler now will cut the risk of this happening
Make your property more environmentally friendly by reducing carbon emissions and help the Government meet tough EU carbon reduction targets
Energy efficient boilers will reduce your heating bills by up to £300 a year. Combi boilers will cut more from your annual costs and are much more convenient with no water storage tank.
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