Connect with us

Hi, what are you looking for?

CleanTechnica
The offer, reported to be available to homeowners to the south of Birmingham from August 1, will be rolled out nationwide from October. It wiil provide households with an unsecured 10-year consumer loan worth up to £50,000 at an APR of 7.9 per cent. [...]

Clean Power

Engensa Debuts ‘Pay-as-You-Save’ Solar Loan

The offer, reported to be available to homeowners to the south of Birmingham from August 1, will be rolled out nationwide from October. It wiil provide households with an unsecured 10-year consumer loan worth up to £50,000 at an APR of 7.9 per cent. […]

 
Paying for the upfront costs of renewable energy options is usually too high a hurdle to cross for many people interested in making the move to green energy.

Engensa may have an option for such people in the UK, however, according to a recent article in BusinessGreen. The solar specialist has officially launched an option that allows households to install solar panels with no upfront costs.

The offer, reported to be available to homeowners to the south of Birmingham from August 1, will be rolled out nationwide from October. It wiil provide households with an unsecured 10-year consumer loan worth up to £50,000 at an APR of 7.9 per cent.

UK solar panels on home via Shutterstock

The loan can be paid off at any time during its lifespan for no extra cost. Engensa says the loan is structured to ensure most homeowners generate savings as soon as the solar system is installed.

“Even at the new August feed-in tariff rate of 16p/kWh most families will make money,” the company said in a statement. “[They will be] generating more in savings and feed-in tariff payments than their loan repayments from day one and will receive the financial benefit in its entirety once the loan is paid off.”

An example put forward by the company suggests that a family purchasing a 4kWp solar PV system for £6,800 would have to make loan repayments totalling £9,755 at a rate of £81 a month. However, the system should generate 3,732 kWh of electricity a year delivering £702 through the feed-in tariff incentive scheme and £284 in savings on the property’s electricity bill, equating to a new income of £82 a month.

 

Advertisement
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

is a writer, producer, and director. Meyers was editor and site director of Green Building Elements, a contributing writer for CleanTechnica, and is founder of Green Streets MediaTrain, a communications connection and eLearning hub. As an independent producer, he's been involved in the development, production and distribution of television and distance learning programs for both the education industry and corporate sector. He also is an avid gardener and loves sustainable innovation.

Comments

You May Also Like

Clean Transport

Transition to zero-emission trucks will help improve air quality, create greener jobs and reduce reliance on imports of foreign oil Republished from Department for...

Cars

Every month I look forward to reading Jose Pontes’ China sales updates and keenly follow the evolution of the Chinese EV market as it...

Cars

The UK market saw plugin electric vehicles take 16.2% share in April, up from 13.2% YoY. Full battery electrics grew strongly YoY, while plugin...

Cars

There are now 15 European countries that have 15% or more of new-car buyers buying plugin electric cars (full electric cars or plugin hybrids)....

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.