Government to introduce cheap loans to promote green homes


In a noble attempt to promote and raise awareness of green homes, the Government of India wants to come up with a scheme that will offer cheap loans and much lesser registration fee for people who choose to go for green homes. The whole objective of this idea is to compensate for the rapid change in climate by neutralising with an energy of net zero when it comes to building homes, and also with respect to the incentives allocated to rooftop solar projects for the residential sector, which have been brought under the category of home loans that enjoy low-interest rates.

Image source: Your Money

According to a report by Business Insider, Piyush Goyal, the Central Cabinet Minister for Power, Coal and Renewable Energy, will soon release the refreshed version of Energy Conservation Building Code-2017 (ECBC-2017) today, highlighting a huge leap that the Indian realty would take for a greener tomorrow.

According to Times of India, this proposal is a part of ongoing discussions the government is holding about framing 'Energy Conservation Building Code for Residential Sector (ECBC-R),' following the code for government and commercial buildings that was framed in 2007, as reported by sources from the government.

In the past, the Government of Maharashtra collaborated with 'Energy Efficiency Services Ltd (EESL)' to make several government buildings totally energy efficient by installing 23,000 air conditioners (e-friendly), 11,00,000 LED lights and 8,00,000 ceiling fans, which shall consequently get the electricity consumption down by almost 48 percent and also save Rs 130 crore per year. Around 1,500 government buildings were made completely energy efficient in the state of Maharashtra, which added up to saving around 128 million units of electricity all across the state.

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