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“Green Loans” For Home-owners

The Energy and Climate Change Secretary Ed Milliband will be announcing the details of “green Loans” for home-owners this week. The government will be offering loans to people who install environmental products, such as solar panels or insulation.

Many people are put off these types of measures due to the initial upfront costs. The government believe that being able to pay for the loan over time will allow people to see the benefits of reduced costs more quickly.

The loan will also be attached to the house rather than the home-owner, meaning that the person who benefits from the measures will be paying it.

Mr Milliband has said that the scheme will be a worthwhile way to cut carbon emissions and to save householders money in the long run.

Legislation will be introduced to control how the loans will be managed and talks between the Government, lenders and retailers are ongoing.