Green Deal
The Green Deal
What is the `Green Deal'?
The Green Deal is a new way of paying for home energy improvements with no upfront cost. Green Deal finance offers a low interest, unsecured loan that is attached to the property and is paid back through the savings on your energy bill. The loan repayments are calculated not to rise above the savings you make, leaving you better off from day one.
What's involved in a Green Deal?
Step 1: Speak to Action Surrey - about your home and potential improvements that your property could benefit from grants and subsidies available to you.
Step 2: Arrange a Green Deal Assessment - Action Surrey can arrange for an experienced and qualified Green Deal Assessor to assess your property and energy bills, and provide a nationally recognised energy report that can be used to access Green Deal finance and grants. Prices start from £99+VAT.
Click the link (right) for our price guide on Green Deal Assessments or complete our free online assessment tool.
Step 3: Get quotes for recommended improvements - Your Green Deal Assessment Report will generate a number of suitable recommendations for your property.
Step 4: Agree on improvements – agree with a Green Deal Provider or Installers on the improvements you would like and a suitable method of financing.
Step 5: When the improvements are installed, you should see savings on your energy bills and loan repayments will automatically be taken from these. As fuel prices increase, so should the savings on your energy bill.
How is a Green Deal paid for?
A Green Deal loan (or plan) will be paid for through the savings you make on your energy bill once the energy saving improvements that were recommended by your Green Deal Assessment Report are installed.
Who supplies Green Deal Finance?
Green Deal Finance can be offered by a ‘Provider’ that holds a Credit Consumer License and are accredited Green Deal Providers licensed to hold the Green Deal Trust mark.
Always look for the `Green Deal Approved' logo
You can check for accredited Green Deal organisations with the Green Deal Oversight Registration Body (ORB): www.greendealorb.co.uk
Additional grants and assistance
See our factsheet on the Energy Company Obligation to check whether you qualify for a grant towards the cost of improving the energy performance of your home. Those living in older, solid wall properties or people in receipt of certain benefits could access an ECO grant.
- Energy Company Obligation (ECO)
- Green Deal Cashback Scheme
For more details on the ECO or cashback scheme, please email us or complete our expression of interest form.
Green Deal Terminology
- Green Deal Loan - An unsecured, fixed interest rate loan that is attached to the electricity meter of a property and paid for through the energy bill.
- Green Deal Assessment Report - An energy assessment of your property that will look at the fabric of the building and how you use energy in the home. It will also include recommendations for improvements.
- Green Deal Assessor - A qualified individual that can generate Green Deal Assessment Reports.
- Green Deal Installer - An accredited Installer that meets a new standard required as part of the Green Deal scheme.
- Green Deal Provider - An accredited organisation that holds a Credit Consumer License and can offer Green Deal Finance (known as `Plans')
- Golden Rule - Loan repayments calculated not to rise above the savings made on the energy bill once the improvements are in place. This may mean that some improvements cannot be fully funded using Green Deal Finance and an additional contribution may be required.