Housing Specification Blog

Is the Green Deal cashback scheme right for you?

January 15, 2013 Alexandra Blakeman Planning & Legislation

Yesterday (14 January) saw the launch of the Green Deal cashback scheme, ahead of the full Green Deal initiative which comes into force on 28 January.

As the government’s flagship environmental initiative, the Green Deal seeks to help homeowners improve the energy efficiency of their properties, with costs repaid through energy bill savings.

The cashback scheme is available on a first come, first served basis. A total of £125m is on offer.

To qualify for the offer, homeowners and landlords must set up a Green Deal assessment, agree quotes from a GD Provider, obtain vouchers and complete work within a specified time frame.

Different amounts are available for different improvements. The following figures are taken from Which? Magazine.

  • £100 towards loft insulation
  • £270 to upgrade boilers
  • £650 towards solid wall insulation

You could be entitled to more than £1000 for your improvements, but the amount is capped at 50% of the homeowners contribution towards costs.

How will the cashback scheme help me?

If you’re looking to improve the energy efficiency of your home, the GD cashback scheme could be an attractive incentive.

Be aware, you must fulfil the terms and conditions on individual improvements to qualify for the funding.

If you’re installing solid wall insulation for example, you would be expected to insulate 50% of the solid walls in your home.

You cannot claim for hot water cylinder installation if you are also planning to replace your boiler.

Just a few simple heads up.

Be sure to carefully consider any finance plan offered to you. Think about other incentives that the Green Deal offers, your project (and your pocket) might be better suited to one of those.

Click here for further advice on funding Green Deal home improvements.

If you’re thinking of signing up to the cashback scheme please get in touch on Twitter @HousingSpec or use the comments box below.

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