Residents of Scotland who replace their existing heating systems with renewable technologies can now apply for an interest free loan to cover the cost.
The Home Renewables Loan Scheme provides interest free loans of up to £10,000 for heat generating renewables systems such as heat pumps and will have a repayment period of up to 8 years. The scheme also offers interest free loans of up to £2,000 for electricity generating renewables systems such as Solar Photovoltaic (Solar PV) with these loans subject to a payback period of up to 4 years.
To qualify for the scheme, the property must be the primary resident of the applicant and must only be used for residential purposes and not rented to tenants. Loans are not available for new build properties. Microgeneration Certification Scheme (MCS) accredited equipment and installers must be used and minimum energy efficient measures must be in place. Further details of the eligibility criteria and the scheme can be found on the Energy Saving Trust website.