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Long-term Low-interest Loans (LLL) for Switching to Renewable Energy

This idea is based on the Warm the Cold concept which raised the issue of people having a hard time paying their utility bills. I suggest to offer them long-term low-interest loans to transform their homes to use renewable energy.

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This idea is based on the Warm the Cold concept which raised the issue of people having a hard time paying their utility bills. I suggest to offer them long-term low-interest loans to transform their homes to use renewable energy.

Many people in a lot of countries have problem with paying their very high heating bills during winter months. So what makes the heating bill so high? For example:
  • Lack of proper insulation of the walls of the building
  • Too old windows and doors that don't close properly
  • Worn away roof
  • Improper foundation
  • Inefficient heating system

Some governments are able to subsidize families who have trouble paying their bills but not all countries and local governments have the luxury to do this, so the only way to solve this problem on the long term is to fix the insulation of these houses so they need less heating and also install more efficient heating systems that use renewable energy.

I propose either governments or any banks to offer long-term low-interest loans for citizens to fix the insulation and heating system of their houses as long as they transfer to use some form of renewable energy. Banks could for instance afford to offer these low-interest loans as part of their CSR activities.

I believe one such initiative exists in Montana and I'm sure there are loads of others as well (will try to find some more later on, but please feel free to link some in the comments)

It would be also great if the initiative would be advertised by the local government who would also offer some advice on how this transformation of the houses could be done and would have a list of trusted contractors who could get that done.

And finally some tips on how insulation could be added to a house.

What resources (money, time, people, technology, etc) will your concept need to be successful?

- Core team in local government - Money to invest in the loans (by bank or government) - Marketing of the initiative - Follow-up on the return of investment for one house and then also for the bank / government offering the loan

What steps could you take to implement this idea today?

The first step would be to set up a governmental body (preferably a really small one) who would talk to banks and convince them to offer such loans as well as look into if the local or central government could offer these loans. Then the next step would be to raise awareness about the program and showcase it.

How can your idea be scaled so that it's implemented in cities around the world?

If the idea was realized in one city the whole framework behind it could be reused in other cities both within the country and abroad. If that happens then yearly best practice sharing sessions could be very useful to exchange ideas between the different cities that do these programs. The idea could also be extended to different utilities, so not just for the heating aspect but water usage if old washing machines consume way too much water, or for cutting back on electricity used for the fridge if that is too old. Additional education could also be given to communities on how much electricity does a computer use while in sleep mode or how much electricity does a phone charger use when plugged in but not charging, etc.

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Warm the Cold

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