It looks like we’ll be spending more time working from home, even when the restrictions are lifted. The need to improve the energy efficiency of our homes has been highlighted to all, simply by the fact we’ve been spending so long in them.
PROBLEM: What’s stopping people from putting polar panels on the roof, insulating their lofts and buying an electric car? I’m sure that part of the reason for not doing so is that one has to eat into savings or take on debt. Very risky given the Covid economic picture.
If the government were to offer loans for home upgrades and low carbon technologies, on an income-dependant repayment plan, like the higher education student loans, people would feel much more comfortable taking on the debt. If you were to lose your job or see your business turnover drop, your repayments are lowered or put on hold, just like the student loan repayments. The amount you pay is proportion to your income.
As with the current Green Homes Grant, reputable and registered firms carry out the improvements to your home and are involved in the administration.