How does the Green Deal work?
The Green Deal is a financial scheme that helps people make energy-saving improvements to their properties by giving them a loan to cover some or all of the costs. The beauty is, the expected energy bill reduction is then used to repay the loan.
Typically this loan is used to:
- Improve loft insulation
- Install more efficient boilers
- Upgrade double glazing
- Add solar panels
To start, you need a Green Deal Assessor to visit your home. They will have a look around, tell you what improvements you can make and estimate how much you could save on your bills. Find a Green Deal Assessor now.
Companies known as ‘Green Deal Providers’ then provide further advice, the funds to make these changes, and can arrange for approved installers to come and get the job done.
Repaying the loan
The Green Deal loan is paid back through your electricity bill at an agreed upon amount each cycle. We will add this as a ‘Green Deal repayment charge’ to your bill so you know exactly what you’re being charged for and deal with your provider directly.
Alternatively, if you’re on a Pay As You Go meter, a small amount will be taken from the meter each day. We will be sure to explain to you how much is being taken so you can keep tabs on your energy expenses.
The amount you repay is set by your lender, not us. So if you have any issues with repaying your loan you will need to tell both us and your Green Deal Provider.
Is Green Star Energy a Green Deal Provider?
No, we just handle the loan repayments as part of your energy bill. You can find a Green Deal Provider on the government’s website here.
What happens if I move home?
The Green Deal loan is actually tied to your home, and not to you as an individual. This means that whoever pays the electricity bill at the property will assume the loan.
So if you leave your home and have made Green Deal improvements, the new occupier will now be responsible for paying back the loan. Equally, if you move to a house that has had these improvements you will now need to make the repayments.
What if I’m renting?
If you’re a tenant in a rental property and handle the electricity bills yourself, you will be responsible for the loan repayments. When the property is empty, these monthly payments will be passed back to the landlord.
Will I be able to switch energy supplier?
You can switch energy supplier as usual, as long as your new supplier is also part of the Green Deal scheme so that they can process your loan repayments.
Have you got a Green Deal finance arrangement?
If you have switched to us and have a Green Deal loan and want to discuss your repayments, contact us at GreenDeal@MyGreenStarEnergy.com or on 0800 012 4510.