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Scotland offers green energy loans

The Scottish Government is to offer a £500,000 interest-free loan scheme to encourage homeowners to install green energy equipment.

The fund, which will be available from 1 April, will see residents paid up to £2,000 to generate electricity or heat from renewable sources.

Those installing electricity technologies will be eligible for payments for feeding electricity into the national grid.

Technologies eligible for the fund will include heat pumps, solar panels, micro-wind turbines and biomass boilers.

The time-limited loans will be offered to householders on a first-come first-served basis. Ministers said the cash has been made available thanks to underspends in the 2010-11 energy budget.

Many applicants previously opted not to take renewables support from the Scottish Government as a result of delays to the UK Government’s renewable heat incentive.

The fund will also offer financial support to customers who were excluded from the RHI until next year.

Energy minister Jim Mather said: “Households will unfortunately not be eligible for the UK Government’s incentive mechanisms for renewable heat until 2012, so our new loans will help householders fill a gap left behind by this short-sighted move.”