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Future of the Green Deal at risk – are you eligible for a cash payout?

8th May 2015 All News and Offers

Green Deal logoCash giveaways on energy-efficient home improvements, funded by the Green Deal, could be scrapped – but £5m remains ready to be claimed.

The small pot of money, of up to £1,850 per household, is available on energy-efficient improvements such as cavity wall and loft insulation, a new boiler, double glazing and energy-efficient doors.

Green Deal is a finance scheme designed to help homeowners upgrade their heating systems and make their homes more energy efficient.  A wide range of improvement measures are eligible, including oil condensing boilers, heating controls, insulation and renewable heating. The scheme works by providing a loan for the improvements which is repaid through the occupant’s energy bills.

Those taking out the loan are protected by the Green Deal ‘golden rule’ which states that the cost of the energy efficiency measures must not exceed the savings that can be achieved.

A key element of Green Deal is a detailed energy assessment of the home. From this a report is produced which recommends measures to improve its energy efficiency. The cost of a Green Deal assessment on your property is £120 – with no guarantee of a later cash payout.

Options are also available for homes that are hard or uneconomic to improve – for example older homes with solid walls. Green Deal work can only be carried out by companies that have received Green Deal accreditation, which helps to protect consumers.

Solid wall insulation, which is fixed to the interior or exterior of homes without cavity walls, is not eligible.

The £540m fund of taxpayers’ money set aside to fund Green Deal home improvements has an uncertain future under the next government. Money is drip-fed to home owners every few months, with the most recent release of funding last month.

This £70m pot runs out in 10 days and it will be up to the new energy secretary to decide when – if – to dip into the remaining money.

But even though last month’s cash injection has run out, the Department of Energy and Climate Change said there was still £5m available on eligible home improvements.

Just 18,480 people were allocated money from this year’s £70m fund, with an average payout of £3,788 per home.

For more information visit the Green Deal website.