Scottish renewable scheme receives huge funding boost

It’s a huge year for Scotland as the country seeks to become independent from the UK in a September referendum.

And as a sign that Scotland truly can support itself away from the UK, First Minister Alex Salmond has announced that a further £4 million will be pumped into the Renewable Loans Scheme.

The scheme, which has been in place since April 2011, aims to provide homeowners with interest free loans for the uptake of renewable products.

Scotland as a whole has come forward leaps and bounds in renewable energy production and this scheme has gone some way to giving individuals an opportunity to invest. Green and clean energy has become a lot more accessible and the dependency on fossil fuels has decreased.

As part of the scheme, homeowners will be able to invest in solar panels, heat pumps and biomass boilers in an effort to reduce expensive energy bills. Wholesale gas and electricity has been on the rise in price with the major energy companies increasing costs year-on-year.

Alex Salmond said: “Scotland is going greener and the wide take up of small scale renewables appliances in households will be vital for us to become a truly low carbon economy. There has never been a better time to save energy and go green.

“Since April 2011, more than 1,188 loans have been issued to householders across Scotland and in particular more than 53 loans across the Western Isles, islanders are clearly leading the charge in choosing efficient green energy.

“I am delighted to allocate further funding of £4 million to this successful interest free loans scheme, so that even more Scots like the Smith family can reap the benefits of low carbon technologies, cut energy bills and emissions, support jobs and the local economy.”

The Renewable Loans Scheme is available through the Energy Saving Trust. Homeowners have now been making use of the funding since 2011 and together will save over £12 million on their bills.

Mrs Smith from Ballantrushal has spoken about her investment and how it has changed the way her family uses energy.

She said: “By installing an air source heat pump in our home, alongside a 5Kw wind turbine, it has enabled us to reduce our utility bills by approximately two thirds. The Energy Saving Scotland Home Renewables Loan Scheme was paramount in us being able to afford the new system in that it is payable over 8 years and is interest free.”

If you’re interested in reducing your fuel bills and want to create a greener home in Scotland, take a look at the Renewables Loan Scheme.

 

Facts & Figures You’ll Love To Share

  • As many as 26,000,000 homes in the UK could be eligible to receive Green Deal funding.
  • Green Deal loans are paid back over a 10-25 year period with the payments taken from energy bill savings.
  • Using the Government’s Green Deal you can upgrade your boiler, improve insulation and replace windows for no upfront fee.
  • The Green Deal’s Golden Rule states that homeowners won’t pay back more than the savings they make on energy bills with improved efficiency.

Tom Crosswell

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