Question reference: S6W-25015
- Asked by: Liam McArthur, MSP for Orkney Islands, Scottish Liberal Democrats
- Date lodged: 31 January 2024
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Current status: Answered by Fiona Hyslop on 15 February 2024
Question
To ask the Scottish Government (a) how much and (b) what proportion of money in total distributed through its (i) Electric Vehicle Loan scheme and (ii) Used Electric Vehicle Loan scheme (A) has been repaid to date and (B) it anticipates will be repaid.
Answer
The Scottish Government provides annual funding to Energy Saving Trust (EST) who are an independent organisation looking to address the climate emergency, EST then delivery the Low Carbon Transport Loan on behalf of Scottish Ministers.
Since the scheme launched in 2011, EST have paid out (i) £176.5 million in loans for new vehicles and (ii) £46.2 millions in loans for used vehicles. (A) To date £101.5 million has been paid back for new vehicle loans and £7.8 million for used vehicle loans. (B) The scheme’s terms and conditions require the loan to be repaid over a term of up to 6 years (5 years for the used EV loan). EST can recycle loan repayments to fund further loans in order to maximise the value and impact of the scheme.