PV firms press ahead with solar finance schemes

Following this month’s impending launch of Green Deal, renewable energy companies are already starting to offer their own fully financed solutions.

Green Deal enables householders to install energy efficiency and renewable energy measures at no up-front cost with repayments made via savings in their electricity bills. But a growing number of companies are not waiting until public finance becomes available from the Green Investment Bank in January and have pushed ahead with their own finance packages.

Joju Solar is one example and has teamed up with Sharp and Hitachi Capital to provide residential customers with loans at competitive rates. Customers can now apply for an unsecured loan from Hitachi Capital to install Sharp solar panels at a fixed rate of 7.9 percent APR with payback between two and ten years.

“Our collaboration with Sharp and Hitachi allows residential customers to own their installation and pay for it through Feed-in Tariff payments and their energy savings,” said Joju Solar’s technical director Dr Chris Jardine.

“Feed-in Tariffs stikll present very strong returns over the long term and with the cost of panels tumbling there has never been a better time to reap the financial and environmental rewards of solar.”

Gerald Grimes, Hitachi Capital’s managing director, added: “At a time when increasing numbers of people are looking for ways to future-proof their homes against rising bills our partnership with Joju Solar and Sharp provides loans at competitive rates and will enable more customers to take advantage of the benefits of solar power.”