Community-Led One-Stop Shop for finance and retrofit

Carbon Co-op is delighted to be a partner in a project being led by our sister organisation, People Powered Retrofit, around developing a Community-Led One-Stop Shop for finance and retrofit. The consortia also includes Metro Moneywise Credit Union, ABCUL (the Association of British Credit Unions Limited), Loco Home Retrofit, Manchester Care & Repair and Julie Godefroy Sustainability.

Funded under the Department for Energy Security and Net Zero’s (DESNZ) Green Homes Finance Accelerator programme, in 2023 we undertook a Discovery stage project which looked at the feasibility of a Credit Union based lending product. This included learning from Credit Union programmes around the world, including those in the United States and Ireland, and undertaking research with householders.

In the next phase of our project we aim to pilot two Credit Union loan products to meet householder demand for retrofit.

  • The Green Home Improvement Loan will help householders making incremental upgrades to their homes using a simple, easily accessible lending product that benefits from advice and guidance from locally-based Credit Union lenders and access to a range of advice materials and offers.
  • The One Stop Shop for Retrofit loan targets the early adopter, deep retrofit market, pairing a bespoke lending product with holistic advice and guidance, design and construction quality assurance. This product helps already engaged and committed clients to increase the scope and scale of their retrofit package, maximising energy savings and triggering earlier works. It will involve a seamlessly integrated retrofit and finance one stop shop offer and will be piloted by People Powered Retrofit in Manchester and Loco Homes in Glasgow.

Carbon Co-op are supporting the project around verification frameworks and tools, as well as the development of Credit Union staff training materials, and householder facing advice. On verification in particular, we’re exploring how smart meter data and a Metered Energy Saving metric can support the service and reporting, including via our PowerShaper Monitor and Tracker tools. This blog from June 2024 highlights the potential.

Project outputs

The report from the Discovery phase of the project in 2023 is available via People Powered Retrofit’s website.

You can also find out more about the wider Green Homes Finance Accelerator programme.

Get in touch

If you are a One Stop Shop or a credit union interested in piloting these products please get in touch with our colleagues at People Powered Retrofit: info@retrofit.coop