The Energy Performance Validation Scheme (EPVS) won the Best Industry Innovation Award at this year’s Card & Payments Awards ceremony, beating the likes of Amazon Pay, whilst showing that the sector is recognising what EPVS does and how it protects consumers buying renewables.
Best Industry Innovation
HIES, whose primary focus is leading the Renewable Energy Consumer Protection Industry, developed a solution in support of Ikano Bank to combat mis-selling in the renewable sector. EPVS was launched to give accurate, independent, impartial performance estimates on consumer quotations and contracts to prevent the mis-selling of renewable technology.
Mark Williams, Head of New Business at Ikano Bank, commented:
“It’s wonderful news that the EPVS scheme has been recognised by the Card & Payments Awards. At Ikano Bank, we see the potential in the Home Renewables market and are looking for partnerships to help homeowners live sustainably. Crucially, EPVS provides transparency and peace of mind for all involved – customers, retailers and us as lenders. The customer satisfaction rates speak for themselves: 100% since December 2017.”
David Lindsay, Director and Scheme Manager of EPVS, said:
“We’re delighted to get some external recognition of the Scheme. The Renewables industry was hit hard when finance lenders retreated from the market in 2015, and our aim was to bring lenders back. EPVS not only gives lenders and consumers’ confidence, it also supports the retailer as it gives them a really strong proposition at the point of sale.”
So, from HIES, it’s a massive well done to all involved. Great things come from great partnerships and this is testament to that. In a time of opportunity, change and uncertainty, it is great to see the role EPVS is playing in ensuring consumers are protected in the renewable sector.
EPVS is a certification standard that validates the processes used by installers to ensure energy saving, generating and/or storage calculations and estimates for home energy products are accurate and valid. EPVS protects consumers from receiving overinflated figures from members when making a purchase by ensuring the contractual paperwork meets the certification standard. They also contact consumers by telephone to confirm they are receiving the documentation EPVS are validating, answering any of their questions, and giving the consumer confidence and peace of mind.