Eight months ago the U.K government launched a scheme to help people to make energy efficient improvements to their homes. The people would borrow the money, pay interest, but the savings would more than offset the cost of the loan. In the even that the house was sold, the responsibility for paying off the loan would lie with the new home owner. An assessment process would ensure that the savings would meet or exceed the loan costs.
The government expected that 10,000 people would be signed up to the scheme by the end of 2013, so far there have been 58,000 assessments conducted and 132 people have signed up.
Story: http://www.bbc.co.uk/news/business-23766117
I'm trying to understand why the take-up rate has been so low, especially considering how many assessments have been made. The scheme sounds fair and the idea that the loan remains with the property means that the people enjoying the savings, pay for them. It's giving people with limited capital access to make efficiency savings in an environment where it looks like energy prices in the U.K can only rise.
Is the problem that it's a loan rather than a gift ?
Is the fact that it stays with the property a problem. Are people concerned about future property values if there is this other loan to pay ?
Is it all just a bit complicated ?
I'd consider the scheme myself but according to the BBC story:
We already have double glazing, cavity wall and loft insulation and our (oil) boiler is as efficient as anything else on the market. If the scheme were extended to PV cells we might consider it were it not for the fact that we already have solar hot water panels on the roof.
The government expected that 10,000 people would be signed up to the scheme by the end of 2013, so far there have been 58,000 assessments conducted and 132 people have signed up.
Story: http://www.bbc.co.uk/news/business-23766117
I'm trying to understand why the take-up rate has been so low, especially considering how many assessments have been made. The scheme sounds fair and the idea that the loan remains with the property means that the people enjoying the savings, pay for them. It's giving people with limited capital access to make efficiency savings in an environment where it looks like energy prices in the U.K can only rise.
Is the problem that it's a loan rather than a gift ?
Is the fact that it stays with the property a problem. Are people concerned about future property values if there is this other loan to pay ?
Is it all just a bit complicated ?
I'd consider the scheme myself but according to the BBC story:
Quote:
Under the scheme, householders can borrow money to install double-glazing, insulation and more efficient boilers. |
We already have double glazing, cavity wall and loft insulation and our (oil) boiler is as efficient as anything else on the market. If the scheme were extended to PV cells we might consider it were it not for the fact that we already have solar hot water panels on the roof.
via JREF Forum http://forums.randi.org/showthread.php?t=264002&goto=newpost
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