UK GBC launches “Pay as you Save” task group

The UK GBC has launched a task group to investigate their proposed mechanism for domestic refurbishment.

The UK GBC’s “Pay as You Save” concept would see a package of low carbon refurbishment measures in homes paid for upfront by a third party, then recovered through a charge on the property over 25 years.

This would mean householders, landlords and tenants could enjoy some of the potential energy and money saving measures without incurring any upfront costs.

The task force will report on the practical steps needed to make their proposed “Pay as you Save” idea a reality.

The group’s report will look at how best to leverage private sector finance, how the billing mechanism will work and the potential legal implications of the charge.

A spokesperson for the UK GBC said that there were a number of finance options behind the scheme, such as a loan attached to a property and for regular billing to be attached to either the energy or council tax bills.

The government’s Heat and Energy Saving Strategy consultation has outlined a similar scheme.

Paul King, chief executive of the UK GBC, said he was confident that the scheme would be implemented in time and that it was a necessary step in reducing carbon emissions.

King said: “Frankly we don’t have much choice. 27% of the UK’s C02 emissions come from our homes and we need to make it much easier, more affordable and more attractice for householders to carry out energy efficient refurbishment.”

The task group’s report will be published in July 2009.