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Home Energy Pay As You Save (PAYS) Pilot Update Justine Prain Head of Financial Developments 16th November 2010.

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Presentation on theme: "Home Energy Pay As You Save (PAYS) Pilot Update Justine Prain Head of Financial Developments 16th November 2010."— Presentation transcript:

1 Home Energy Pay As You Save (PAYS) Pilot Update Justine Prain Head of Financial Developments 16th November 2010

2 2 Pay As You Save (PAYS) concept - Removes upfront cost of installing energy efficiency and microgeneration measures in homes - Repayments over substantial period of time - Repayments less than savings - Finance linked to property rather than individual - Available to home owners and tenants

3 3 Home Energy Pay As You Save (PAYS) pilot 2 year pilot (England only) funded by UK Government £4m funding 5 projects testing different approaches with a range of commercial and public sector partners Final report to government April 2011

4 4 09/ /11 PAYS sign ups Pilot ProjectActual agreements signed Average loan amount B&Q42£12,300 Birmingham City Council*28£12,500 British Gas86£11,300 Gentoo**45£4,200 Stroud31£9,000 TOTAL203 ** Represents measures installed on properties * Conditional agreements signed

5 5 Mix of measures so far Note – Number of measures to be installed and listed in PAYS finance agreements

6 6 Further information Including pilot project case studies Justine Prain Head of Financial Developments


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