Solar panel firm offers loans

14/08/2012 10:13:15

 

A solar panel firm is offering low-interest loans to UK homeowners in a bid to encourage them to embrace green energy.

Engensa, an installer of photovoltaic panels, is targeting householders who would like to go solar, but lack the financial clout to do so in the current economic conditions.

The company claims that anyone who owns their home and is employed is eligible for a loan, although a credit history check will apply.

As with most of the green energy sector, solar power has had a difficult 2012 - while the manufacturing cost of producing the panels has fallen over the past year, government subsidies have twice been slashed.

Engensa is teaming up with Hitachi Finance to offer the solar loans at an APR of 7.9%, capped at £50,000 over a 10 years period.

Homeowners will own the solar panels outright while benefiting from their lower energy costs, and there is no penalty clause for settling the loan early.

Copyright Press Association 2012

 

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