The conversation around renewable energy is heating up again, and this time it’s centred on how homeowners could access affordable loans to make their homes greener.
At the Liberal Democrats’ autumn conference, Deputy Leader Daisy Cooper proposed a windfall tax on big banks to fund low-interest loans for households and small businesses. The idea is simple, redirect the profits made by the banks, largely due to high interest rates, into an Energy Security Bank, designed to help families invest in renewable energy solutions such as solar panels.
What This Could Mean for Homeowners
If implemented, the plan could see loans of up to £20,000 made available for households. This will help those homeowners who are falling through the cracks – middle earners, who don’t qualify for help through the ECO4 scheme and cannot afford to self-fund without a finance offer – the chance to afford renewable and efficient home upgrades.
Community groups and small businesses will also be able to benefit from the scheme with loans up to £50,000 available to upgrade insulation and install renewable technology like solar panels and heat pumps.
More excitingly, the Lib Dems have proposed installing solar panels on supermarket car parks across the UK, using surplus energy to power the grid with clean, green electricity. They expect enough solar to be installed to supply a small city annually.
Why Solar Power is Key to Lowering Energy Bills
While the politics of how such schemes are funded may change, the benefits of solar energy remain crystal clear. Immediate savings on your electricity bills, up to 70% by generating and using your own free electricity. Solar panels provide protection against rising energy costs, future proofing your home from future price hikes. A solar PV system installed by SolarTherm UK is a proven way to cut your home’s carbon footprint by up to one tonne a year.
At SolarTherm UK we’ve already helped thousands of homeowners across Essex, Kent, London and the wider South East make the switch to solar, without waiting for political promises to come through. Whether or not a new Energy Security Bank becomes reality, there are finance options already available today, that can make solar panel installation more affordable.
Take Control of Your Energy Future
Government policy may shift and change, but one thing is certain, the sooner you invest in renewable energy, the faster you’ll start saving. SolarTherm UK offers expert solar panel installation, tailored to your property and optimised for maximum savings. Support and guidance on every step, from design to installation to first class aftercare. Our MCS-certified installers are ready to help you start your road to energy independence.
Don’t wait for Westminster to decide. Start your solar journey today and take back control of your energy costs. Contact SolarTherm UK today for a free no obligation quote and design, tailored to your property, usage and future energy needs. No hard sell, just honest, expert advice.
Your home. Your energy. Your future.
