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The Low Carbon Economy Ltd

02 Mar 2010 12:03:02

Supermarkets to offer "green loans" to home-owners



Supermarkets to offer
The government has launched its 'Pay As You Save' green loans scheme for homeowners.

Shoppers will be able to buy green loans from their local supermarket, as part of a package of government measures to make homes more energy-efficient and cut household emissions by 29 per cent by 2020.

The loans, worth up to £10,000, can be paid back as the homeowner makes savings on energy and fuel bills through installing energy-efficient technology and microregeneration technology.

Homes in Birmingham, Sunderland and London did a test run of the 'Pay As You Save' scheme after its announcement last year during the Copenhagen scheme.

Describing the scheme as "the great British refurb", environment minister Ed Miliband said last year: "Many British householders want to reduce their emissions, but are put off by the upfront cost of installing insulation, solar panels or ground source heat pumps. Pay As You Save will trial different ways of paying for this so it's affordable.

"One quarter of the UK's total emissions come from homes, so householders have to be part of the solution to climate change. Increasing the energy efficiency of homes not only helps reduce emissions, but will also help reduce fuel bills."

The government is aiming to make the scheme as accessible as possible, through proposals to sell the loans through local authorities and DIY stores.

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