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Feed In Tariffs, Green Deal 2012 and the Renewable Heat Incentive
Another reason WHY you should only use Independent DEAs
-Green Deal - launch April 2012
With a budget of many millions and a targeted 2 million homes to benefit, Green Deal is the Government's Flagship programme for 2012. Green Deal is a Green Financing initiative, allow ANY homeowner with an inefficient heating system or poorly insulated house to upgrade all of this with NO outlay; thats right! you could have a new heating system, controls, double glazing and full insulation supplied and installed for you at NO OUTLAY!
How it works...
Irrespective of your income or status, if you have designs on improving your home, you firstly seek an Independent Home Energy Advisor, who carries out a domestic energy assessment (EPC) for you, and calculates your home's actual running costs for heat, light and power. The Advisor creates with you a desired improvement plan, then goes away and calculates the energy savings which would result if each measure was to be carried out. If the saving is signifficant, the Advisor can, with you apply for Green Deal Funding via a Green deal Provider. The Provider can then carry out all or part of the works to your home.
The Golden Rule is that the cost of the measures are covered by the savings in energy over the agreed term. And thats what pays for the loan; the saved amount within your usual bill. So you do not get reduced energy bills until the cost of measures has been covered.
Be suspicious of large Providers offering you FREE Green Deal surveys, it means you have to use them for all supplies and labour. Whereas paying an Independent Advisor a small amount for the survey, means that you and Advisor can choose the best provider for yourneeds. Remember, nothing is really free
-FIT- feed in tariff.
An initiative launched by the Government in 2010 to stimulate individuals and companies to generate power locally such as on their roofs (PV Panels), Wind turbines in their fields or gardens. The tariff has, for December 2011 been reduced for 2012 but if you have a good south facing roof, with little or no shading in Cornwall, its still a very good proposition, especially if you use electricity during the day time
The tariff can be found at....www.energysavingtrust.org.uk
and basically aims to give a 8-10% return on investment. You pick an electrical generating system, look at the tariff to see how much you will be paid per KW of energy you generate, have the system installed by an MCS approved installer, register with an Energy supplier and wait for you quarterly cheque.
Case Study... my own photovoltaic installation
I paid circa £14,000 for nearly 3.68kW PV panels (16 in number) to be installed by an MCS approved company on the South facing roof of a bungalow that I rent out. I entered into a contract with Ofgen for 25 years, which was tax free and index linked, which would pay circa 45 pence per unit of electricity. In the first 9 months the panels have generated nearly 2.6kW giving me nearly £1500 back -that means the £14000 could be paid off in 9 years leaving 15 years of income without cost. Of course they may break down, be damaged, lose their efficiency, but in general it looks to be a good investment IF you have the right roof. Small Wind turbines could provide an even better return.
-Renewable Heat Incentive (RHI)
As the initiative implies, this is a grant system for installing new technology which will warm homes using Renewable heat and replacing old, inefficient systems which use oil, gas and other CO2 emitting fuels. This would include Ground Source Heat pumps, Biomass Boilers, etc
Special Introductory Tariff: Energy Advice & Assessment to include Full EPC £195 per half day - you will recoup this within 3 months of carrying out measure/s.
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