If you’re interested in the DECC Green Deal then there’s an important aspect of the scheme that everyone must pass and this relates to the Golden Rule. The Golden Rule has been put in place as a way to protect both the property and the owners and acts as the initiative’s backbone.
The Golden Rule states that energy savings achievable over a 25-year period with the energy efficiency upgrades in place must be equal or more to the cost of implementation. So, this means you won’t be paying back more on the DECC Green Deal loan than you’ll be saving – A welcome relief for many.
As a secondary part of this ruling, energy efficiency upgrades, such as double glazing or solar panels, must be completed by an approved Green Deal installer. By doing this it’ll prevent you investing in work which won’t save sufficient money on bills.
Every home interested in the DECC Green Deal will first of all be visited by an approved assessor who’ll carry out a report on the savings possible. Funds will then be allocated to support the implementation of these measures.
As the Government has placed this monumental emphasis on protecting the homeowner, the Golden Rule will cap the amount of funding lent for the first year. It’s a way of safeguarding the installer too and means homeowners aren’t left paying back more money than they’re saving. The loans available will increase after this initial trial year period.
The Caveat
What’s important to understand for those considering the DECC Green Deal, is that it’s almost impossible to predict the exact savings achievable with certain energy efficiency measures. Even with the rule in place it’s not possible to guarantee future savings and in some ways is intended as a guideline only. The Government are positive though that people won’t be paying back more than they save.
Also remember, energy prices will rise in the future, so with these efficiency systems in place you’ll be saving more and more as the years roll on.
Facts & Figures You’ll Love To Share
- [tweetable alt=””]As many as 26,000,000 homes in the UK could be eligible to receive Green Deal funding.[/tweetable]
- [tweetable alt=””]Green Deal loans are paid back over a 10-25 year period with the payments taken from energy bill savings.[/tweetable]
- [tweetable alt=””]Using the Government’s Green Deal you can upgrade your boiler, improve insulation and replace windows for no upfront fee.[/tweetable]
- [tweetable alt=””]The Green Deal’s Golden Rule states that homeowners won’t pay back more than the savings they make on energy bills with improved efficiency.[/tweetable]