Why the time is right for the Government’s Green Deal

  • 27 Nov 2013

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The cost of heating a home in Britain is constantly on the rise, and with winters seeming to get longer and colder, the thought of the gas bill arriving through the letterbox can be a real worry. The Green Deal will assist in alleviating some of these pressures by helping homeowners to install energy efficiency measures with the costs being recovered from the subsequent savings in their energy bills.

Under the Green Deal, installed measures are expected to pay for themselves within the life of the payback period, a provision known as the Golden Rule. Some Measures can not achieve this requirement, such as solid wall insulation. But these measures are incredibly important and as such, the funds provided under the Green Deal can be augmented by ECO finance. This is a subsidy provided by energy companies as part of their ongoing legal obligation to invest in energy saving/carbon reduction measures.

The widespread installation of green systems, such as wind generators, wall insulation, draught proofing and solar water heating, will not only reduce the amount of money that people are spending on their bills, but they will also help to lower the country’s dependence on fossil fuels.

Improving the green credentials of properties across the UK should be seen as a long-term investment for the country. The change in attitude towards energy saving in new builds has been greeted with tremendous support, but there are still millions of inefficient older buildings that fall far short of modern standards.

The UK needs to lower its carbon footprint and everybody can take action and make alterations to their lifestyle to help achieve this goal. The Green Deal will give people the opportunity to do their bit, without having to initially pay for the work.

The Green Deal can also be seen as a vehicle for educating people on the different methods and systems that can be employed to improve the energy efficiency of a property.

Technology such as insulated brick cladding does not always grab the public’s attention in the same way as solar panels or wind generators, but its energy saving credentials are undeniably impressive. When working to improve the energy efficiency of old buildings, an insulated system can significantly reduce energy consumption, as well as improve internal comfort and rejuvenate the exterior look of a property.

Energy Performance Certificates are a standard requirement of the property market. In the same way that spacious rooms, a large garden and original features can be a selling point for a property,
so too are the green credentials.

Investing in energy saving products can save money, not only in the short-term through lower utility bills, but also over a longer period by adding value to a property.

It is worth noting that the funding of these green improvements is not solely limited to the Green Deal. Recently, a high street building society launched its own scheme for individuals to finance the installation of energy saving products. The Green Deal repayment structure is tied to a property, while the high street lender’s scheme is secured to the mortgage. The more options that people have the better, as everyone’s financial circumstances are different.

Although finding the right payment plan will be important for the consumer, it is also vitally important that people begin to understand the different options for improving their home and that it is up to them to take responsibility for their energy consumption.

Turning a blind eye to our country’s carbon footprint cannot continue. The Government has an enormous task ahead, but everyone has a part to play. The Green Deal gives individuals an opportunity for an affordable, plan of action for improving their property’s energy efficiency. These changes will have to be made at some point, so what better time than now?

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