An outline of how the Green Deal works and why it's expected to be of special value when renovating uninhabited properties.
What Is The Green Deal
The Green Deal is a long term financing initiative of up to £10,000 to help people invest in sustainable technology for their property.
The Green Deal’s ‘Golden Rule’ is that the ‘savings exceed the payment’. This means that your payback instalments will always be less than the savings on your energy bill.
The Green Deal should be tempting because it allows people to increase the value of their property effectively for free, while saving money on their energy bills. It runs in a similar vein to the feed in tariffs.
The process goes like this:
Anyone interested in the Green Deal can arrange to have an assessment from an accredited surveyor who outlines the potential savings, cost of works and payback period.
The next stage involves figuring out which green methods – solar PV, solar thermal or boilers, for example – are the most viable options.
Landlords Read On
The belief is growing that the Green Deal is particularly useful in the case of void properties.
The reasoning is that there will be no disruption to residents while the work is being carried out and, once the work is completed, the property will be an enticing complete package that the new resident can benefit from straight away.
The incentive for a landlord to go ahead with Green Deal improvements should reflect the Golden Rule – the savings should trickle down to the resident. Ultimately the property will be more valuable as a result.
