green deal finance interest rates

[Eco Deal]

I just thought I would point out the life time of solar PV is 23 years form an EPC and green deal WHY dont ask me.

so the longest you could take a green deal plan out for pv would be 23 years.

 

[TedM]

Green Deal docs I've read say PV has a 25 year lifetime.

 

[Ian-LS]

I'm assuming the 25 years relates to the performance warranty that all manufacturers have?

 

[SRE]

https://www.gov.uk/government/uploa...de-to-the-green-deal-for-residential-land.pdf found this - I wonder how many landlords will realise they are liable for payments if the property is void? Also interesting to see that from 2016 it's going to be difficult for a landlord to refuse to have Green Deal done on their property. This could cause all sorts of problems if the landlord has a medium term plan to sell in 3 - 5 years.

Interesting times to come.

 

[Berneray]

The panels will have a 25 year warrante/guarantee.......but not the inverter. So how does that work.

 

[TedM]

The 25 year figure is just the assumed lifetime by DECC for the purposes of defining the maximum period that a Green Deal loan can be taken out over.

The Green Deal requires that there is a 5 year Installation Guarantee - apart from cavity and solid wall insulation which needs 25 years. This requires the GD Provider to rectify all problems with the installation free of charge. (I assume they will cover this in their contract agreement with a Green Deal Installer but maybe they will self-insure this aspect in order to save money).

And there also has to be a Consequential Damage Guarantee for 10 years from the date of installation, covering the building fabric.

Details are here - http://www.legislation.gov.uk/ukdsi/2012/9780111525227/schedule/3

 

[Eco Deal]

[TABLE="width: 392"]
[TR]
[TD="class: xl64, width: 331, bgcolor: #707014"]Measure [/TD]
[TD="class: xl65, width: 192, bgcolor: #707014"]Plan Life[/TD]
[/TR]
[TR]
[TD="class: xl66, width: 331, bgcolor: transparent"]Cavity walls (all types)[/TD]
[TD="class: xl67, width: 192, bgcolor: transparent"]25*[/TD]
[/TR]
[TR]
[TD="class: xl68, width: 331, bgcolor: transparent"]Loft insulation (virgin)[/TD]
[TD="class: xl69, width: 192, bgcolor: transparent"]25*[/TD]
[/TR]
[TR]
[TD="class: xl66, width: 331, bgcolor: transparent"]Loft insulation (top-up)[/TD]
[TD="class: xl67, width: 192, bgcolor: transparent"]25*[/TD]
[/TR]
[TR]
[TD="class: xl68, width: 331, bgcolor: transparent"]Solid wall (internal and external)[/TD]
[TD="class: xl69, width: 192, bgcolor: transparent"]25*[/TD]
[/TR]
[TR]
[TD="class: xl66, width: 331, bgcolor: transparent"]Draught proofing[/TD]
[TD="class: xl67, width: 192, bgcolor: transparent, align: right"]10[/TD]
[/TR]
[TR]
[TD="class: xl68, width: 331, bgcolor: transparent"]Hot water cylinder insulation[/TD]
[TD="class: xl69, width: 192, bgcolor: transparent, align: right"]10[/TD]
[/TR]
[TR]
[TD="class: xl66, width: 331, bgcolor: transparent"]Double glazing[/TD]
[TD="class: xl67, width: 192, bgcolor: transparent, align: right"]20[/TD]
[/TR]
[TR]
[TD="class: xl68, width: 331, bgcolor: transparent"]Boiler upgrade[/TD]
[TD="class: xl69, width: 192, bgcolor: transparent, align: right"]12[/TD]
[/TR]
[TR]
[TD="class: xl66, width: 331, bgcolor: transparent"]Heating controls[/TD]
[TD="class: xl67, width: 192, bgcolor: transparent, align: right"]12[/TD]
[/TR]
[TR]
[TD="class: xl68, width: 331, bgcolor: transparent"]Mini-wind[/TD]
[TD="class: xl69, width: 192, bgcolor: transparent, align: right"]23[/TD]
[/TR]
[TR]
[TD="class: xl66, width: 331, bgcolor: transparent"]Photovoltaic panels[/TD]
[TD="class: xl67, width: 192, bgcolor: transparent, align: right"]23[/TD]
[/TR]
[TR]
[TD="class: xl68, width: 331, bgcolor: transparent"]Solar water heater[/TD]
[TD="class: xl69, width: 192, bgcolor: transparent, align: right"]25[/TD]
[/TR]
[TR]
[TD="class: xl66, width: 331, bgcolor: transparent"]Ground source heat pumps[/TD]
[TD="class: xl67, width: 192, bgcolor: transparent, align: right"]20[/TD]
[/TR]
[TR]
[TD="class: xl68, width: 331, bgcolor: transparent"]Air source heat pumps[/TD]
[TD="class: xl69, width: 192, bgcolor: transparent, align: right"]20[/TD]
[/TR]
[TR]
[TD="class: xl70, width: 331, bgcolor: transparent"]Biomass – wood pellet boiler[/TD]
[TD="class: xl71, width: 192, bgcolor: transparent, align: right"]20[/TD]
[/TR]
[/TABLE]

 

[TedM]

Which DECC document is that from Michael?

The latest DECC document I can find is this - https://www.gov.uk/government/uploa...ta/file/69753/InformationSupplyChainFINAL.pdf

4. In order to provide greater clarity for the supply chain on what the eligible measures are and what key assumptions the assessment tools make, DECC commissioned BRE to produce this document.

5. This document provides further information on:
a. How the Green Deal assessment tools describe the measure;
b. The circumstances in which it will be recommended, including whether it will be recommended in the domestic or non domestic properties (or both);
c. Other information about assumptions including costs, savings and lifetime estimates.

6. DECC does not define eligibility for finance at the product level, however Green Deal Providers, manufacturers, distributors and installers can use this information to help them determine whether products or product–types qualify. The performance assumptions contained in this document are also a helpful baseline for understanding the level savings assumed for the generic measures.

It is dated 28th January 2013.

This is what it says about PV:



(@SRE you will also be interested in p27 which shows that a replacement external door may save £6 a year, and could in no way be fully funded by Green Deal)

 

[Berneray]

Its started already.....Large double glazing and PV Solar Companies....are now marketing their GREEN DEAL APPROVED products with INTEREST FREE finance.

So when customers compare Interest Free with 7% Green Deal Finance with annual fees and set up costs ect ect... ....they will forget or miss the fact that these companies prices will have been inflated to cover the Interest Free in the first place...

Green Deal is a government approved, backed, and marketed license to miss-sell....Its a heaven sent opportunity for these companies....and they do not even need to be Green Deal Approved......as their customers will not be using Green Deal Finance..

 

[Orffyreus]

Green Deal is a government approved, backed, and marketed license to miss-sell.

That Berneray, just about sums it up.

 

[Berneray]

Why would anyone want to take out a 25 year loan for home improvements?

 

[Earthstore]

Why would anyone want to take out a 25 year loan for home improvements?

It all depends how it is sold to them...

Also where do DECC get their figures from?
£9000-£14000 for a 2.5KWP system... really....

 

[Ian-LS]

It all depends how it is sold to them...

Also where do DECC get their figures from?
£9000-£14000 for a 2.5KWP system... really....

Thats whats on the EPC certificates at the moment I think. Based on prices that are 18 months out of date

 

[Orffyreus]

So where did DECC conjure these figures from? Looks to me as if they are using annual production figures as electricity saving.

Edited.... looks like a few of us were wondering the same thing.

As it happens, I have a 2.45kw system and although production is 2280Kw per year my electricity saving is about 800Kw. I work from home so all washing cleaning cooking etc is done during the day before the boss comes home so I think I would be hard pressed to get a saving of 1717Kw.

 

[Ian-LS]

oh dear oh dear. Its based on 100% in house savings and also modest shading for a south facing roof....can they just give the calculations to someone that knows what they are doing please?