Green Deal – Nu Gas Group


Green Deal – Nu Gas Group

greendeal-posterWhat is the Green Deal scheme?

The Green Deal aims to fund energy-saving upgrades for your home without any upfront costs. Instead, the costs are added to your energy bills and staggered over time, like a loan.

So if you want to replace your boiler with a more energy-efficient model, or want to install draught-proofing or loft and wall insulation you can do so using a Green Deal loan.

You’ll still be charged for the improvements, but the cost will be repaid over time as an additional charge on your energy bill. However, the ‘golden rule’ of the Green Deal is that your repayments will have to be less than the money you will save on your energy bills.

The Green Deal is essentially a loan from the private companies installing these energy efficiency measures. There’s a maximum amount of £6,500 per household and, crucially, this is tied to the home rather than the owner, so if you move house the debt is passed on to whoever lives there next.

The loan is then paid back through the electricity bill over a 25-year period.

Unlike many other home improvement initiatives, the Green Deal is not dependent on people’s income and the loans are available to everyone.

How will it work?

From a customer’s perspective there are a few key steps you will have to take:

First, you need to decide what needs to be done to your home. You’ll have to get a property assessment, which will be done by specially accredited advisers (us!) who will visit your property and assess its current energy performance and what measures are suitable for you.

Next, shop around. Once you have the results of your Green Deal assessment you can start collecting some quotes from Green Deal providers who will give you a range of quotes for the work.

Then all you have to do is choose which provider you prefer. The work can take place no upfront costs, and you’ll only start paying it back as an additional charge on your energy bills. However, you also have the option of paying for some of the work upfront if you want.

It’s worth bearing in mind that while your ‘deal’ won’t technically be a loan; the government has indicated your contract will be entitled to the protection given under the Consumer Credit Act, so they will have to adhere to the guidelines.

Will the Green Deal save me money?

Yes. Energy-efficiency upgrades such as insulation can save you up to £310 a year, while upgrading your boiler to a more energy efficient boiler can save you up to £300 a year.

While cost is often the main reason not to take up these offers, the Green Deal will offer you an upfront loan to be repaid with energy savings. Once the Green Deal energy loan is repaid, you keep any future savings.

When did the Green Deal launch?

The scheme officially launched in January 2013.

Are we Green Deal accredited Providers? – YES!

Call us TODAY on 01226 755661 or email the team at enquiries@nugasgroup.co.uk if you’d like to speak to us about the Green Deal scheme.