Solar panel loans to help homeowners invest in green energy
Image by now picnic via Flickr The British Government is proposing to offer loans so householders can install solar panels. This is not a new idea, as in the US so companies and local authorities have already started doing this. The cost of installing solar panels on a typical house in the UK costs @ £12,000. This is more than many families can afford in the current economic climate. The loans will repaid with the savings householders make from the electricity they generate . The model relies on the recently announced ‘feed-in tariff’ that will give householders an income from feeding surplus electricity into the National Grid . This could amount to hundreds of pounds a year. The tariff pays up to 36p per kW/hr of electricity generated form not only solar panels but also wind turbines , hydro power or anaerobic digestion. This is paid even if the electricity generated by these means is not fed into the National Grid but used instead by the householder. Any that is fed back i...