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Home Energy Pay As You Save (PAYS) Pilot Update

Home Energy Pay As You Save (PAYS) Pilot Update. Justine Prain Head of Financial Developments. 16th November 2010. Pay As You Save (PAYS) concept. Removes upfront cost of installing energy efficiency and microgeneration measures in homes Repayments over substantial period of time

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Home Energy Pay As You Save (PAYS) Pilot Update

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

  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. 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. 09/10 + 10/11 PAYS sign ups * Conditional agreements signed ** Represents measures installed on properties

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

  6. Further information • Including pilot project case studies www.energysavingtrust.org.uk/pays • Justine Prain • Head of Financial Developments • Justine.prain@est.org.uk

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