With a new Government in power changes are inevitable. One such change is the end of the Green Deal scheme, which enabled households to make home improvements and improve the energy efficiency of their homes.
Those of you who have recently taken advantage of the Green Deal may be wondering how the changes will affect you. Here’s the lowdown on all you need to know:
When did the Green Deal scheme end?
Applications for loans through the Green Deal Finance Company, who administered the scheme, were no longer being accepted after 3.30pm on Thursday 23rd July 2015.
What happens to my plan with the Green Deal Finance Company now?
There are no changes if you already have a plan with the Green Finance Company. They are still solvent and trading, therefore you should continue to repay your loan which will be collected via your electricity bill as before.
What is the Green Deal Home Improvement Fund and is it different to the Green Deal scheme?
Yes, the Green Deal Home Improvement Fund is different to the Green Deal scheme. In fact it’s completely separate and not administered by the Green Deal Finance Company like other Green Deal loans. It was added to the Green Deal in July 2014 in a bid to boost the scheme. The Green Deal Home Improvement Fund pays up to £1,850 towards the installation of two energy efficiency solutions for your home.
Can I still apply for the Green Deal Home Improvement Fund?
Yes there is still £4 million available to help households with the costs of installing certain energy saving measures. But you’ll have to be quick as the closing date is 30th September 2015 and of course the funds may run out before the deadline.
What energy saving measures does the fund apply to?
As the funds are now dwindling, only a few energy saving solutions are still supported by the fund. If you install two or more of the following energy saving measures, costing at least £1,250, you can claim back 100% of your costs. These are: double, triple or secondary glazing, condensing mains gas boilers, replacement warm air units, fan-assisted storage heaters, waste water heat recovery, energy-efficient replacement doors and insulation including cavity wall, flat roof, floor and rooms in roof spaces.
You can also get £100 of your assessment costs refunded if you implement the home improvement recommendations outlined in the Green Deal assessment. Also, if you bought your home in the last 12 months and have taken advantage of the first option we mentioned, you can get a further £500 towards home improvements.
How do I apply for the Green Deal Home Improvement Fund?
Firstly you’ll need a Green Deal assessment and an Energy Performance Certificate also known as an Energy Report. Then you’ll need to get a quote from a Green Deal installer or provider for the required improvements. And finally, you’ll need to apply for a Home Improvement Fund voucher via the Gov.uk website.
