The British government will introduce legislation that would tie new, subsidized loans for energy efficiency to a house, rather than a current owner, a move that could make energy retrofits far more affordable for most homeowners.
Energy and Climate Secretary Ed Miliband said the new legislation would enable homeowners to take out long-term loans at lower interest rates and thus encourage homeowners to make energy-efficiency improvements that they might otherwise not have made had they planned to sell their houses in a few years.
“The key thing is… to ensure that the repayments are attached to the house, not the person,” said Miliband.
Marian Spain, director of strategy at the Energy Saving Trust — which advises the government — said local governments could set rates for subsidized energy efficiency loans at levels that would enable households to repay their loans from resulting energy savings.
Meanwhile, in Sweden, the government announced that it would build 2,000 large wind turbines over the next decade to help the country meet its goal of generating 50 percent of its electricity from renewable sources by 2020.
Article appearing courtesy Yale Environment 360.