Purpose

Cabinet is recommended to approve the introduction of the Energy Upgrade
Loan, with an initial loan pot of £250,000.

Content

Cabinet approved the introduction of
the Energy Upgrade Loan, with an initial loan pot of
£250,000, as a new financial product offered to residents and
landlords in any ward in the Borough.

 
OPTIONS & ALTERNATIVES
CONSIDERED

An alternative option would be to
use the Council’s financial contribution to provide grants
for retrofit measures. With grants, our support would not go as
far, as we would only be able to support a small group of
households. With the Energy Upgrade Loan, the Council can reduce
key barriers, supporting residents and landlords that are
interested in funding the important changes
themselves.

Another option is to not launch the energy upgrade loan. This
option is not recommended since this would mean limited support to
residents and landlords in retrofitting their homes, which could
undermine the Council’s target to reach zero
net carbon emissions by 2030.