Green Loans for Energy Efficiency

A new ‘green loans’ scheme setup by the government is set to help homeowners and landlords to improve their homes and make them more energy efficient.

After the recent ‘Big Freeze’, leaving many homeowners with their biggest energy bills ever, energy efficiency and cutting down on carbon emissions has become ever more important.

Glass manufacturer Pilkington have claimed that 76% of the population in Britain believe that energy efficiency is important when purchasing a new property. The independent research showed that the most important energy efficiency measures include having an energy efficient boiler, installing green heating, cavity wall and loft insulation and double glazing in windows. The double glazing alone can help to save 20% on energy bills every year.

In fact, savings could amount to over £10,000 over a lifetime, however many homeowners are put off by the upfront cost required to make these changes. Thanks to the new scheme introduced by Climate Change Secretary Ed Miliband, it is hoped that more and more homeowners will take action to make the changes.

The Green Loans scheme will provide long-term funding for those that want to make changes. They will be tied to the property, rather than the person, and only paid back as the savings of energy efficient changes are felt.

Miliband stated that the scheme ‘will allow people to pay for home improvements after they have had them installed rather than before.’ He added that this will be good for the environment and for families, thanks to lower bills and more comfortable properties during a cold winter.