Interest free energy efficiency loans for Scottish homes

Posted on 04 August 2013 by Priyanka Shrestha

Householders in Scotland will soon be able to apply for interest free loans for installing energy efficiency measures under a new £3 million scheme unveiled by the Government.

Loans worth up to £10,000 can be borrowed depending on the technology and cost of the renewable systems which include solar panels, micro wind turbines, biomass boilers and heat pumps.

Homes that install the renewable energy technologies will be eligible for payments for feeding electricity into the National Grid and can also benefit from the Renewable Hear Premium Payment (RHPP) vouchers.

The announcement is in stark contrast to the UK’s Green Deal scheme which includes interest rates of around 7%. It comes as part of the Scottish Government’s plans to tackle fuel poverty and help towards cutting the nation’s greenhouse gas emissions. It follows its aim last month of helping every household become energy efficient by 2020.

Energy Minister Fergus Ewing said: “With the UK Government delaying its domestic Renewable Heat Incentive scheme until at least spring 2014, our funding boost will make sure households, especially those in fuel poverty, are able to increase their income through renewable technologies.

“This investment will also help to boost our micro-generation market, which will also help to create jobs in this fast growing industry and meet our commitment to deliver renewable energy and energy-efficient homes in those communities worst affected by fuel poverty.”

Those interested will have the chance of visiting a local homeowner who has already installed renewable technologies.

Earlier this year DECC increased the amount available for people switching to renewable heat from traditional systems.

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Article source: http://www.energylivenews.com/2013/08/04/interest-free-energy-efficiency-loans-for-scottish-homes/