NEWS

Green Deal Cashback Goes Live

14 January 2013

The Government has rolled out a new cashback scheme to run alongside its much heralded Green Deal.

The Green Deal scheme offers financial assistance to those looking to make energy efficiency improvements to their property at no up-front cost. A Government loan is available to pay for a wide range of improvements, including External/Solid Wall Insulation, Loft Insulation, and Cavity Wall Insulation.

Those taking out a Green Deal loan agree to pay back the borrowed sum plus interest via their regular electricity bill. The payback period is up to 25 years.

The scheme was created by the Department of Energy and Climate Change (DECC) and was officially launched on 28 January 2013.

To find out more about the Green Deal and how it can help you save money on your energy bills, contact EnergyLink today.

One of the additional benefits associated with the Green Deal is the cashback scheme that has been brought in alongside it.

Those choosing to take out a DECC approved loan can claim money back on all work carried out that is designed to improve the heating and energy efficiency of their property. This includes those households opting for microgeneration (home energy production), including solar heating.

The Government has announced that a sum of £125M has been set aside for the Green Deal Cashback Scheme.

Of that £125M, an initial £40M is guaranteed at a set rate of pay, as determined by the DECC. This includes the following incentives:

- Loft insulation (incl. top up) £100
- Cavity wall insulation £250
- External/Solid wall insulation £650*
- Flat roof insulation £390
- Room in roof insulation £220
- Floor insulation £150
- Hot water cylinder insulation (incl. top up) £10

*Cashback can only be claimed on external/solid wall insulation that is applied to at least 50% of external wall area.

Cashback is available on a first-come, first-served basis. Once the initial £40M has been paid out to households, these prices will be re-evaluated.

The Government has confirmed that there is at present no cap on the amount of cashback a household can claim. In essence, the Green Deal Cashback Scheme – which has been implemented to achieve a higher uptake for the scheme as a whole – rewards those that seek out a higher number of improvements.

To find out more about the Green Deal Cashback Scheme and whether it will be beneficial to you, contact EnergyLink today.


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