Retrofit Revolving Loan Fund
Project Summary
This project aims to establish a revolving loan fund to retrofit
500 local domestic – and possibly non-domestic properties – with carbon reduction technology. Managed by a third-party Financial Conduct Authority approved lender, the fund would support around 50 homes per year with insulation and heat pumps.
Based on evidence from Oxfordshire County Council’s current programmes, an emissions reduction of around 700 tonnes per year could be achieved by 2030, if 200 properties proceeded and half installed a heat pump.
Outcomes
- Retrofitting projects reduce energy consumption and lower carbon emissions
- Lower fuel bills, increased comfort, lower fuel poverty, and lower emissions
- Potential scale of a larger domestic retrofit programme is a stable and growing local supply chain
- Use of innovative products and techniques to optimise energy use
- Provide additional resilience to a changing climate
Other information
Organisation
Oxfordshire County Council.
Total Cost
£3m – £5m.
Remaining
£3m – £5m.
ROI
In the region of 4% (assuming over 10 years).
Timeline
Autumn 2025 onwards.
Supporting Information
Expected to save 700 tonnes per annum to 2030. Individual domestic retrofits would require planning permissions and it is never 100% possible to verify supply chains may not involve forced labour.