Broadland District Council launches green loans
Broadland District Council have launched interest-free loans for residents to install renewable technologies or energy saving measures in their homes.
The offer is a partnership project with the Eastern Savings and Loans Credit Union who will be providing the loans.
Cllr Trudy Mancini-Boyle, Deputy Leader of Broadland District Council, said:
"These loans will help Broadland residents save money on their bills by supporting them to more affordably improve the energy efficiency of their homes. The scheme will support activities such as improving insulation, installing solar panels which could save residents hundreds of pounds on their heating bills each year and reduce their carbon footprint.”
The loans can be up to £5,000 paid back over three years, they can be used for measures like installing solar panels or loft or wall insulation. They can also be combined with national grants, such as the Government's boiler upgrade grant.
The Energy Saving Trust estimate that installing cavity wall insulation in a detached home would save £690 per year, loft insulation would save £590 per year and for a house that’s occupied all day solar panels will save £610 per year.
Residents should apply directly to the Eastern Savings and Loans credit union and will need a quote from an appropriately accredited installer with a guarantee. We recommend that residents obtain more than one quote to ensure value for money.
Loans are available for loft and wall insulation, air source and ground source heat pumps, solar photovoltaic and solar thermal panels and upgrading single glazing to double glazing.
The loans are interest free with no early repayment charges and are subject to an affordability assessment from the ESLCU. You must be a member of the ESLCU to apply for a loan, this costs £13 per year and can be done immediately prior to loan application.
Find out more or apply online or contact the ESLCU directly on 03336 000690. There are a limited number of loans available, so apply soon to avoid disappointment.