With increasingly stark warnings of an energy crisis, spiralling bills and depleting resources, it’s welcome news that the UK government have introduced a new loan and financing scheme to help more people adopt greener and more energy efficient technology in their homes or businesses.
Called the ‘Green Deal’, this new scheme allows you to take out a loan (which is tied to the property and not the individual) and offset the cost against savings made through renewable solutions such as solar panels.
What Does The ‘Green Deal’ Entail?
After your home is assessed by a ‘Green Deal Assessor’, you’ll be given a quote for your own financing plan – this will detail the cost of installation, the amount you’ll repay and estimated repayments based on expected savings as a result of your new installations. This could be anything from double glazing or new loft insulation, to larger things like new boilers, rainwater harvesting systems and solar panels.
How Can It Benefit My Home/Business?
The primary benefit is being able to reduce your dependence on ‘grid’ energy and be able to lower your usage with technology or solutions that you otherwise wouldn’t be able to afford. Being able to offset the cost of installation against savings means you’re not out of pocket as a result of your new energy saving technology, but as soon as the loan is paid off then the savings will start to make noticeable reductions to your financial outgoings.
Additionally, as the loan is tied to the property and not yourself as an individual, if you decide to move house then you won’t have to continue paying for something you’re not actually getting the benefit from – unlike non-specific loans, which would see you needing to continue paying back the amount even if you no longer lived in the property.
If the government’s new Green Deal has you interested and excited in the green world of solar power or renewable thermal energy (such as ground source heat pumps or solar thermal panels) then get in touch with Lewington Solar today on 01858 433 333 to see how we can help.