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Ikano Bank shortlisted for innovative home renewables protection scheme

 

Ikano Bank shortlisted for innovative home renewables protection scheme

The Energy Performance Validation Scheme (EPVS), created in partnership with Certi-fi Schemes and Ikano, has been shortlisted in the ‘Best Industry Innovation' category for the Card & Payment Awards 2019, which will take place next February.

 

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Andy Paver - IkanoAndy Paver, Head of UK Loans & New Business said:

"EPVS is the first of its kind for home renewables purchases. Buyers can have increased faith in both the installation and the savings calculations, home renewables products are designed to provide. We’re committed to growing the home renewables market and increasing consumer confidence is critical for sustainable growth. Ikano Bank’s promise, On Fair Terms, comes alive in EVPS by protecting everyone involved – customers, retailers and ourselves, the lender."

 

 

The scheme supports sustainable home improvements, removing a barrier to purchase and payment. Home renewables buyers can purchase with point of sale finance, splitting the cost and giving them confidence in their investment.

100% customer satisfaction has been achieved from over 90,000 customers since the programme launched in December 2017, demonstrating the success of the programme and Ikano Bank’s commitment to fair terms for customers and the home renewables market.

 

 

 


 

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The future of renewables - flexible energy

 

Domestic Energy Storage has the potential to be a major contributor to the UK Energy Power Network through load balancing, dynamic response and grid aggregation.

battery storageHIES has been working with key industry stakeholders since 2013 (we were the first consumer scheme to approve energy storage products) to create solutions to support the UK renewable industry sector in transitioning to a zero carbon, low cost, decentralised energy network.

HIES is working with key manufacturers in the domestic energy storage sector - BYD, Duracell, Eon, Growatt, LG Chem, Lux Power, Moixa, Prime Hybrid Energy, Puredrive Energy, Pylon Tech, SolaX Power etc. We believe that 2019 will see a large uptake in domestic energy storage, with estimates ranging from 100,000 deployed devices, to over 500,000.

Energy Storage - Aggregation via Grid Trading

A key component for delivering upon our zero carbon goals will be domestic energy storage. There are benefits to stand-alone devices, however, domestic energy storage when aggregated together in large numbers can provide 108GW of support to the UK Energy Grid (stats based on 27m homes with 3.6kw storage capacity each). Grid trading will likely make the proposition to consumers more attractive as they will be paid for their energy by aggregators such as Social Energy, KIWI, OVO etc.

Funding and finance

HIES has always been the market leader when it comes to securing and safeguarding consumer finance in the renewable sector. We have agreements with finance lenders to provide lending facilities to HIES members wishing to install domestic energy storage devices.

We are also working closely with a funding body we hope will be able to introduce a finance model that will be zero cost to consumers in the future. The benefit of this model is that it will allow the unable-to-pay market sector (primarily those in fuel poverty) to take advantage of products like energy storage and solar PV with zero or little direct cost.

Flexi-ORB

The Flexible Energy Oversight Registration Body (Flexi-ORB) has been launched to provide oversight registration and regulatory support to the domestic energy storage sector. This body will ensure the safe, controlled deployment and decommissioning of energy storage devices. This body is offering its services for free to installers and manufacturers and is supported by key industry stakeholders.

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HIES, in line with other consumer bodies, now requires those members who sell and install domestic energy storage devices to be approved by Flexi-ORB. Please contact us so we can provide more details on how to join and introduce you to the Flexi-ORB team (more info at www.flexi-orb.com).

 

 

 


 

Are you considering joining HIES?
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The 8 pillars of consumer protection - consumer protection at its best!

 

Consumer protection is at the heart of everything we do at HIES and we strongly believe that no consumer should ever be left disadvantaged. With this in mind, we are constantly striving to reduce consumer detriment and raise industry standards.

The level of consumer protection provided by HIES is of the highest standard, and in order to achieve this, we believe the following ‘8 pillars of consumer protection’ must be adhered to:

 

  1. All home improvement businesses are members of an approved industry sector Code of Practice (COP).

  2. All consumers are registered with the installer’s COP (so the Code has oversight).

  3. The COP writes to every consumer entering into a contract with a member (above, £500 contract value) letting them know of the protections in place and also asking for feedback on the installer’s performance.

  4. The COP has a responsibility to provide free mediation, free inspections and free ADR/ Ombudsman protection if there are any disputes with its members.

  5. The COP cannot ‘lose its responsibility’ if the installer is no longer a member.

  6. The COP should police and audit that all consumers have their deposits and guarantees robustly protected, should the installer cease to trade (and keep records of this).

  7. The COP should police that all ‘performance calculations’ or other pre-sales information given by traders are verified and audited and if the performance calculations are found to be incorrect, obtain effective redress for the consumer.

  8. Consumers should have access to a ‘scheme of last result’ in case the trader becomes insolvent. This way no consumer will ever be disadvantaged.

 

Click here for a shareable version of the 8 pillars

 

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Are you considering joining HIES?
Call us on 0344 324 5242
Or complete our membership enquiry form

 

-OR-

 

Do you have a question?
Call us on 0344 324 5242
Or send an email to communications@hiesscheme.org.uk

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