The Green Deal cashback scheme is now open, offering hundreds of pounds to householders in England and Wales who make their homes more energy efficient.
However, Which? advises caution as the full details of the Green Deal have not yet been revealed.
Cashback for saving energy
Cashback is available on a first-come first-served basis to households who take up the Green Deal early on. A total of £125m is available.
Different amounts are available for different improvements. For example, householders can get:
- £100 towards loft insulation
- £270 to upgrade their boiler
- £650 towards solid wall insulation.
Find out how much you could get in our guide to the Green Deal cashback scheme.
Green Deal finance
The Green Deal is a new way to pay for energy-saving home improvements. You’ll be able to take out Green Deal finance to pay for measures such as loft insulation, wall insulation, double glazing, or even a new boiler.
It’s like a loan – where you pay no upfront costs for the work done – but it differs from a traditional loan in that the ‘loan’ repayments are taken from the savings you make on your energy bills.
The additional cashback being offered to early participants in the scheme is separate from the finance deal and will not need to be repaid.
Find out more about the Green Deal in our Green Deal explained guide.
Proceed with caution
Which? advises caution towards the Green Deal as the full details, including interest rates and terms and conditions, have not been made public yet. The full scheme will be launched on 28 January.
Before you book a Green Deal assessment for your house, read our Green Deal checklist.
And before you sign up to anything, make sure you know exactly what you’re signing up to and check whether there is another cheaper way (such as a credit card or mortgage) to pay for your home improvement work .
- Green Deal: find out how much cashback you could get
- Looking for alternative financial help for energy efficiency? Check our guide to energy grants
- Save money on your heating bills: get a new efficient gas boiler