Presentation on theme: "Pay As You Save (PAYS) Scheme UK Best Practice Initiative."— Presentation transcript:
Pay As You Save (PAYS) Scheme UK Best Practice Initiative
Pay As You Save (PAYS) Scheme What is it? What are the benefits? Who oversees/runs the scheme? What partners are involved in delivering the scheme? Where is the scheme being piloted? How much will the pilot scheme cost? What is the estimated impact of the pilot scheme?
Pay As You Save (PAYS) Scheme What is it? The Pay As You Save (PAYS) is an innovative finance solution that will give UK householders the opportunity to invest in energy efficiency measures (such as double glazing and additional insulation) and microgeneration technologies (such as solar panels) in their homes with no upfront cost.
Pay As You Save (PAYS) Scheme What are the benefits? Householders will make repayments spread over a period of time so that their repayments are lower than their predicted energy bill savings. This will mean that householders experience financial and carbon savings from day one. If successful, the scheme will help remove one of the perceived barriers for householders i.e. the financial costs of implementing more expensive energy efficiency and renewable measures.
Pay As You Save (PAYS) Scheme Who oversees/runs the PAYS scheme? The PAYS Scheme is a UK initiative by the Department of Energy and Climate Change (DECC). DECC have asked the Energy Saving Trust (a national advisory service) to conduct a pilot scheme between 2009- 2011 to trial and assess elements of the PAYS concept.
Pay As You Save (PAYS) Scheme What partners are involved in delivering the scheme? The pilot will be run by five separate partners who are trialling different ways to access PAYS funding: Gentoo Group Ltd: Registered Social Landlord, Gentoo Group Ltd will be working with householders in the North East of England. Gentoo Group Ltd: British Gas: British Gas will use its market research to test householders reactions to finance options. Homes will receive a whole house audit and a personalised energy saving report. British Gas:
Pay As You Save (PAYS) Scheme What partners are involved in delivering the scheme? Birmingham City Council: Birmingham City Councils activity will form part of the £35m Green New Deal (GND) project. For the PAYS project householders will receive whole house assessments. Birmingham City Council: B&Q UK: B&Q UK will lead a PAYS project in partnership with the London Borough of Sutton and the Bioregional Development Group (BDG). B&Q UK: Stroud District Council: As part of Stroud District Councils (SDC) wider programme of carbon reductions – Target 2050, it will work with Severn Wye Energy Agency (SWEA) to deliver energy saving home improvements in local homes. Stroud District Council:
Pay As You Save (PAYS) Scheme Where is the scheme being piloted? The scheme has been launched with around 500 homes from Birmingham, London Borough of Sutton, Sunderland, Stroud, Surrey and Sussex being offered the chance to receive a whole house energy makeover.
Pay As You Save (PAYS) Scheme How much will the trial scheme cost? DECC is providing £4m of funding to cover capital measures with £2m available in 2009/10 and the balance in 2010/11.
Pay As You Save (PAYS) Scheme Estimated Impact of Pilot Scheme The pilot is testing consumer interest in elements of the PAYS finance model. It also provides feedback on how to market and communicate finance packages to householders. The learning outcomes from the pilot will be used to inform and develop Governments new Green Deal. The pilot enables householders to access PAYS funding of up to £20,000 for installing energy efficiency and renewable measures. Householders receive a home energy audit and advice/handholding throughout the process.
Pay As You Save (PAYS) Scheme Further Information For further information on the Pay As You Save (PAYS) Scheme check out the promotional video on YouTube by clicking on the following link: http://www.youtube.com/watch?v=DH _z7Zx7n5w&feature=player_embedd ed http://www.youtube.com/watch?v=DH _z7Zx7n5w&feature=player_embedd ed You can also contact the Energy Saving Trust (England) directly via their website www.energysavingtrust.org.uk/pays by emailing PAYS@est.org.uk or telephoning 0800 512 012. www.energysavingtrust.org.uk/paysPAYS@est.org.uk