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CTSI Audit concludes HIES “Measurably Improves Consumer Protection” in the Home Renewables Market

 

The Home Insulation and Energy Systems Contractors Scheme (HIES) has received high praise following the company’s first audit, by the Chartered Trading Standards Institute (CTSI), since becoming an approved code sponsor in 2015.

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HIES Founder Tony Pickup (Left) and Brand Ambassador & Ex BBC Watchdog Presenter Nick Ross (right)

On 1st August 2015 HIES was officially recognised as an approved CTSI Consumer Code, the UK’s second official Code of Practice for the renewable energy sector.

In May this year HIES was subject to an onsite audit by a Chartered Trading Standards Practitioner from CTSI. A copy of the report can be downloaded from the CTSI website. 

Throughout the report HIES has been praised for the way it conducts itself and highlights several areas of best practice. It states:
“HIES is a dynamic organisation that has made significant improvements to its systems within the last 12 months that have measurably improved consumer protection”.

Ikano Bank lends its support to a determined renewable energy industry

Despite an initial slow down, after the latest Feed in Tariff cuts, the domestic renewable energy sector is picking up momentum again. Government figures for January 2016 show 18,772 solar PV installations, compared to a figure of 8,527 during the same period last year (based on number of installations in the UK ≤ 4kW, source DECC Solar PV Deployment 25th Feb 2016). The sector is maturing, stabilising and showing sustainable growth, so why have so many lenders left this space?

Domestic purchasers often look to obtain finance in order to spread the cost of their investment in renewable energy products over a term that suits their budget. Being able to offer a loan through a third party lender gives retailers a safe and secure financing option that helps ensure they maximise sales conversion.

Access to Consumer Finance for Renewable Installers


Earlier in the year a number of finance lenders in the renewable sector removed themselves from the market. 

This left many installers without a finance facility. HIES recognises the important part finance lenders play in our industry and has been working with lenders to mitigate their Section 75 and Section 56 liabilities (promises made by installers). This is the reason why they exited the market. HIES is giving them confidence to re-enter this market.

As a result, some finance lenders are now accepting expressions of interests from HIES members.

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