Businesses and the Green Deal UK

The Government launched its Green Deal UK scheme to help improve energy efficiency in domestic and commercial environments. And businesses can make the most from the scheme by applying for funding to help with making their property more energy efficient.

An assessment will outline the energy saving measures that would be suitable for the premises. The business will then be able to apply for the funding, which is expected to be a higher value than available for domestic installations.

There is no exact limit to the funding available for businesses in the Green Deal UK scheme, which is one of the significant differences between this and the domestic scheme. Instead, the limit is set between the business and provider. This is to incentivise large scale improvements, which will save plenty of money in the long run.

There are no upfront costs to the business installing the measures and funding is provided through a loan. The only cost is with the initial assessment, but could be waived depending on the provider and business applying.

Remember, with the Green Deal UK scheme there’s a Golden Rule which applies to the amount businesses will pay back:

  • The expected financial savings must be equal to or greater than the costs attached to the energy bill

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The business could also already be involved with another scheme, and the Green Deal UK will need to be shaped to work into these obligations. However, the principles of the scheme remain almost identical to that of domestic uptake.

Other schemes open to businesses are the Climate Change Agreements and Carbon Reduction Commitment Energy Efficiency Scheme.

There are the same measures available to businesses too as with domestic properties, including double glazing, solar panels, wall cavity insulation and replacement boilers. However, due to the scale of some businesses, certain improvements may not meet the Golden Rule: for example cost effective lighting could be more suitable than solar.

 

Facts & Figures You’ll Love To Share

  • As many as 26,000,000 homes in the UK could be eligible to receive Green Deal funding.
  • Green Deal loans are paid back over a 10-25 year period with the payments taken from energy bill savings.
  • Using the Government’s Green Deal you can upgrade your boiler, improve insulation and replace windows for no upfront fee.
  • 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.

Evy Coe

Evy works for Quotatis as a Content Marketing Executive. She loves to write about interior design and help homeowners with their DIY projects.