Boxed Energy, a joint venture between Places for People and FCS
Energy has celebrated its first award win - in recognition of a
truly innovative approach to the finance and management of heating
solutions for social landlords.
Boxed scooped the title of 'Most Innovative Finance Model'
at the recent Housing Innovation Awards, for its unique Heat Supply
Agreement (HSA) - which enables RSLs to upgrade to highly-efficient
heating and hot water systems, without any upfront capital
The award-winning HSA means that the new systems can be
paid off over a 20-year contract, with Boxed Energy assuming all
responsibility for operation, management and lifecycle repairs
during that time.
The Boxed Energy model, which uses third-party funding
from the Green Investment Bank, was rewarded for facilitating more
than £3M in capital investment into Places for People properties
over the past 18 months, as well as generating over 800 tonnes in
carbon savings through increased system efficiency.
In awarding the trophy, the event judges praised Boxed
Energy for its "incredibly innovative proposal, which fully matched
the brief for thinking outside the box".
Mike Button, Director of Boxed Energy
"This award is fantastic recognition of the creative
approach we've adopted in developing Boxed Energy with our project
partners; Places for People, Baxi Heating, and Equitix on behalf of
the Green Investment Bank.
"Over the past year, Boxed Energy has developed from an
innovative concept into a proven solution, which is helping
landlords deliver a more reliable heating and hot water service to
hundreds of customers nationwide - whilst offering significant
energy and carbon savings."
02 March 2017