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Monday, 28 January 2013

Green about the Green Deal?

The Government’s Green Deal is up and running.

Householders are able to sign up to finance plans from today, 28 January 2013, as are landlords and tenants in the private rented sector. There is even a first-come, first-served cashback scheme to encourage early uptake; that, too, will be available to residential landlords and tenants as well as householders.

The basic aim of the Green Deal, the Government’s flagship energy efficiency initiative, is to remove the up-front costs of energy efficiency measures. The driving principle is that improvements to properties pay for themselves through the savings that result.

To achieve this, the Green deal involves a pay-as-you-save financing mechanism which is available from accredited Green Deal providers. The liability for repayment of the Green Deal financing will attach to the property’s energy bills (and will fall on the person who is liable to pay the bill).

How do I get Green Deal finance?

Make sure:-

1. the energy efficiency measure you are planning is eligible (a Green Deal assessor will advise on this);

2. it is suitable for the property concerned (again, the assessor will decide this);

3. it meets the golden rule (i.e. that the resulting savings in gas and electricity bills will pay for the improvements).

The Green Deal will not be for everyone. But it is worth getting to grips with the detail and seeing whether it stacks up in your own circumstances. Landlords may be approached by residential tenants and will – eventually – be prevented by legislation from unreasonably refusing consent to make energy efficiency improvements. At the same time, the introduction of minimum energy efficiency levels in parts of the private rented sector from April 2018 makes this a good time for landlords to take a serious look at what the Green Deal offers. Green deal plans will have to be disclosed when properties are sold and let out.

If you would like to discuss the implications of the green deal as far as agricultural property is concerned, give Julie Robinson a call on 01775 842 618.

Another sensible first port of call would be the Energy Saving Advice Service on 0300 123 1234.