Ulster Bank Offers UK's First Solar Mortgage
We've heard rumors of 40% cuts in the cost of solar and claims of the imminent arrival of $1-a-watt solar technology, but the fact remains that going solar remains a significant investment (in fact, the Photovoltaics Economics Calculator can help you find out exactly how much it'll cost you). As solar becomes more popular and more desirable, it is inevitable that financial service providers will start offering solutions to make it more accessible too. The Ulster Bank in Northern Ireland has just launched the UK's first solar mortgage, offering a 50% reduction in the bank's standard variable rate for three years to help finance the cost of solar panels:
"The sun offers a simple and efficient way to directly contribute to the powering of your home. An average sized installation of solar panels or tiles could reduce your annual energy bill by up to 50% and entitle you to cash back from your electricity supplier - potentially hundreds of pounds a year.
That's why we've teamed up with Solarcentury, Europe's leading supplier of solar technologies, to offer you an affordable way to reduce your energy bills and invest in your home."