Queen's Speech announces energy security and green economy bill

New government announces legislation to finance household energy efficiency measures

The UK’s new coalition government is planning legislation in the coming year to create a pioneering loans scheme to finance household energy efficiency measures.

The legislation will feature in an energy security and green economy bill, one of 24 announced by the Queen in her speech at the state opening of parliament.

Households will be able to borrow several thousand pounds from private sector lenders, using the money to install improved insulation and heating equipment. The government has yet to decide if it can also cover microrenewables. A similar scheme may be introduced for businesses.

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