nuclear-news

“Solar panel loans’help UK homeowners to profit from feed-in tariff

‘Solar panel loans’ to help homeowners invest in green energy New source of funding intended to take the costs out of renewable power THE INDEPENDENT (UK) By Martin Hickman, Consumer Affairs Correspondent,  2 February 2010
Homeowners will soon be able to take out “solar panel loans” to cover the high costs of renewable energy. Solar panels typically cost up to £12,000 to install yet take decades to pay for themselves in energy savings.

From April, homeowners who generate electricity from domestic solar panels and wind turbines will also be paid hundreds of pounds a year by the Government, it was confirmed yesterday. The “feed-in tariff”, funded by a levy on home fuel bills, will give householders a much greater guaranteed income with which to repay their loan. A senior figure in the renewable energy industry said that several high-street lenders had had discussions about the introduction of new loans in recent months, and predicted they would be launched to coincide with the start of the feed-in tariff. It is hoped the loans will increase the take-up of green power, which is lower in the UK than the rest of Europe.

Under the feed-in tariff, people who generate electricity via photovoltaic solar panels, wind turbines, hydro power or anaerobic digestion will receive up to 36p per kW/h of electricity, even if they use the power in their homes rather than feed it into the national grid. An extra 6p will be paid for every unit supplied to the grid.

‘Solar panel loans’ to help homeowners invest in green energy – Green Living, Environment – The Independent

February 2, 2010 - Posted by Christina Macpherson | climate change, renewable, UK | energy efficiency, renewable energy, renewables, solar