Home Energy Pay As You Save (PAYS) Pilot Update

Justine PrainHead of Financial Developments16th November 2010

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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

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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

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09/10 + 10/11 PAYS sign upsPilot Project Actual

agreements signed

Average loan amount

B&Q 42 £12,300

Birmingham City Council* 28 £12,500

British Gas 86 £11,300

Gentoo** 45 £4,200

Stroud 31 £9,000

TOTAL 203

** Represents measures installed on properties

* Conditional agreements signed

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Mix of measures so farLoft Insulation

Draught Proofing

Cavity Wall Insulation

External Wall Insulation

Internal Wall Insulation

Flat Roof

Sloping Ceiling

Floor

Solar Thermal

Wood burning stove

Boiler Upgrade

Solar PV

Heating controls

Double Glazing

Note – Number of measures to be installed and listed in PAYS finance agreements

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Further information

Including pilot project case studies www.energysavingtrust.org.uk/pays

Justine Prain

Head of Financial Developments

Justine.prain@est.org.uk