Banks back insulation scheme

All main trading banks have agreed to join the government's insulation and heating scheme, and have agreed to waive fees for top-up loans home owners get as part of insulation retrofits.

Thursday, June 18th 2009, 2:33PM

by The Landlord

Prime Minister John Key launched the scheme in Christchurch today along with Energy and Resources Minister, Gerry Brownlee, and Green Party energy spokesperson, Jeanette Fitzsimons.

The scheme will officially be called "Warm Up New Zealand: Heat Smart".

The government announced in the budget it was spending $323 million over four years to retrofit 180,000 homes with insulation and clean-heating devices.

The scheme provides government grants of $1,300 towards a third of the cost of insulation and a $500 grant for clean heaters.

It starts on July 1 and will be run by the Energy Efficiency and Conservation Authority (EECA).

"Half a million New Zealanders will benefit from the scheme, and there has already been a great response.

Thirty providers are already on board and, from today, EECA will begin to take registrations of new providers, who are expected to be operational within three months.

If you're wondering how to go about getting your insulation subsidy when the scheme becomes available on July 1, go to the Warm Up: Heat Smart tile on the home page of EECA's website.

The site explains all subsidies will be organised by the providers. To find a provider in your area, click here.

Providers will visit a person's home to do an assessment. They will make sure the house qualifies for the available subsidies. All home owners or landlords with houses built before 2000 that have insufficient insulation are eligible.

Providers will then give home owners a quote which will include the subsidy in it. They will make appropriate arrangements to get the money from EECA, thereby passing the reduced cost to the home owner.

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