Boxed Energy, a joint venture between FCS Energy and Places for People, 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 outlay.
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 said: “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.”