Cut cost of loans for solar panels on UK homes, ministers urged
A new report suggests that the UK government should subsidize loans for household solar panels to make them more accessible to lower-income families. The proposal includes the use of 'solar bonds' to fund the initiative and reduce energy bills.
Why it matters
Addressing the high upfront costs of renewable energy is critical for meeting climate goals while simultaneously mitigating the impact of rising energy prices on households.
The household solar panel sector is booming in Britain after a sunny spring and summer. Photograph: Chris Howes/Wild Places Photography/Alamy The household solar panel sector is booming in Britain after a sunny spring and summer. Photograph: Chris Howes/Wild Places Photography/Alamy Solar power Cut cost of loans for solar panels on UK homes, ministers urged Report says ‘solar bonds’ could fund wider access to clean energy, reducing household bills
Prefer the Guardian on Google Solar panels could be cheaper for people on lower incomes if the government stepped in to reduce the cost of loans, a report argues.
Solar panel installations can save households hundreds of pounds a year in energy bills, but at an initial cost of about £5,000 to £10,000 they are beyond the reach of many households.
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