Green Deal for Homeowners starts with an initial energy assessment which identifies the technologies that will be the most beneficial a homeowner can apply for funding to have the installation made.
The Green Deal Provider will arrange for a Green Deal installer to come and carry out the work you have agreed to. The installer will have been vetted to ensure they meet the standards set out for the Green Deal.
You pay back the cost of the improvements over time through your electricity bill. Your electricity supplier will pass your payments on to your Green Deal Provider. The amount you pay back will be no more than a typical household will save on heating bills, so you are likely to be better off overall from day one.
Although the cost of the improvements is repaid, this is not a conventional personal loan as the charge is attached to the electricity meter in your house and paid back through your electricity bill. If you move out, the new occupant will pick up the charge while also benefiting from a more energy-efficient property.
Interest will be charged on these payments, but the rate will be fixed and you will be shown a full schedule of all the payments before you sign up to the plan. It is up to the Green Deal Providers to decide on the interest rate, so it will be worth shopping around to find the best deal. You will be able to pay off the plan early if you choose, though the Provider may charge a fee for this
The golden rule of the Green Deal states that:
"The expected financial savings for any measure installed must be equal to or greater than the costs attached to the energy bill"
There are already several existing schemes that some homeowners might already be signed up for and the Green Deal will have to be worked into these obligations.
The following energy saving measures, among others may qualify for the Green Deal scheme:-