The Green Deal boiler replacement scheme is the Government’s flagship energy programme, helping to ease the financial burden of paying out for energy efficient home improvements.
The scheme hasn’t received favourable reviews from the public, with many unaware how it works and 80% of the UK suggesting they’re simply not interested. This is bad news for the Government who have pinned their hopes on making Britain energy efficient with £200 million of funds.
The Green Deal provides the upfront payments for those wanting to cut their energy bills with insulation such as replacement boilers, double glazing, loft lagging and wall cavity insulation. This loan will then be paid back monthly.
Green Deal lowdown
- The Green Deal works by supporting homeowners purchasing energy efficient home improvements that will reduce household bills, such as boilers
- This Government loan will then be paid back monthly, on the basis of how much is saved on energy bills
- Rather than being a personal loan, it will be attached to the property.
Whilst this sounds like the perfect opportunity, you should be wary. The scheme has attracted criticism over its repayment plans, with proposals calculating figures on a national average rather than on a personal level.
Green Deal discounts
To counter the general animosity over the Green Deal, the Government are putting plans forward for Green Deal boiler replacement scheme discounts, which would work as a cash back system. The Department of Energy and Climate Change (DECC) want one-off payments to be made to those who take up the scheme early.
The scheme, which has been billed as the biggest home insulation project since the Second World War, has £200 million available for those willing to take part.
The DECC are targeting 14 million UK homes to benefit from Green Deal loans but there are fears homeowners simply won’t see the scheme as an attractive prospect.
With thousands of the lowest rated boilers installed up and down the UK, there’s a chance to improve the efficiency of your home and avoid paying out on installation costs.
Should I replace my boiler with the Green Deal?
Whilst the Green Deal boiler replacement scheme offers a way out of making upfront payments for boilers, the prospect of paying back more than you save should certainly ring alarm bells. Investing yourself is the better option and with a new boiler:
- Cut your heating bills up to £300 a year, with an efficient system that converts more fuel into heat
- Ensure your home is warmer in the winter and breakdown risks are reduced. An old boiler can fault at any time leaving you without heat and hot water, so investing in your own boiler now will cut the risk of this happening
- Make your property more environmentally friendly by reducing carbon emissions and help the Government meet tough EU carbon reduction targets.
Facts & Figures You’ll Love To Share
- Heating accounts for around 60% of the annual household bill and a new boiler can slash expenses.
- By replacing your old and inefficient boiler you can save up to £310 a year according to the Energy Saving Trust.
- Energy prices have doubled since 2004 and will double again by 2020, so secure your energy future with an A-rated boiler.
- An annual boiler service costs between £50 and £100 but could save you hundreds of pounds on future repair work.
- With a new boiler you can slash carbon dioxide emissions by a whopping 1,200kg each year.
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