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The REA (Renewable Energy Association), created to represent teh interests of renewable energy producers, has suggested to grant loans of up to 10000 GBP free of interests to homeowners wishing to install a source of renewable energy in their homes.

In order to go through with this the REA proposes the creation of a fund of 1 billion GBP intended to be financed by the European Investment Bank. Furthermore, the REA suggests that the cost of this financing should be covered by the british government who is far from reaching its renewable energy goals or by the power and gas companies who could use this as a cheap way of honoring their commitments to increase efficiency on energy use and save energy.

Shot time ago it was declared in Brussels that by the year 2020 20% of the energy of the EU should be from renewable sources. The UK is far from reaching this target with only 2% of its energy coming from renewable sources.

London,February 27th 2008