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Miliband unveils ‘green loan’ energy plans

by: Mortgage Solutions
  • 02/03/2010
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Miliband unveils ‘green loan’ energy plans
Plans to encourage homeowners to make their homes warmer and cheaper have been announced by Energy and Climate Secretary Ed Miliband.

Under “The Warm Homes, Greener Homes Strategy”, people will be offered ‘pay as you save’ loans to install insulation, solar panels or other green technology, which they can repay through energy bills.

Miliband said the proposals will allow seven million households to benefit from upgrades and reduce energy bills. He also said the scheme would enhance the value of a property by making its energy costs significantly lower.

With around one quarter of UK emissions coming from energy used in homes the Warm Homes, Greener Homes Strategy is aimed at cutting emissions from the UK’s homes by 29% by 2020.

Miliband said the Government was aiming to meet the national interest of tackling climate change and reducing dependence on foreign energy at the same time as saving people money.

He added: “It will remove the deterrent of upfront costs and reduce the hassle of the move to greener living. Making homes more energy efficient will help protect people from upward pressure on bills, tackle climate change, and make us less reliant on imported energy.”

John Healey, Housing Minister, said the measures will put the consumer in control of greening up their homes.

He added: “More than a quarter of carbon emissions come from our homes, so it is vital people are able to make the improvements that will lead to smarter use of energy. There is a lot of momentum to change and radically re-think how we track our energy use and refurbish our homes and buildings for the future.”

 

 

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