PRN: Engensa's New SolarLoan Introduces "Pay-as-you-Save" Solar to Millions of UK Homes
Engensa's New SolarLoan Introduces "Pay-as-you-Save" Solar to Millions of UK Homes
LONDON, May 22, 2012 /PRNewswire/ --
ï»¿ï»¿Offers Homeowners all the Benefits of Investing in Solar without any of the Upfront Costs
Engensa, the UK's leading home energy company, today announces the launch of SolarLoan, the easiest and most affordable way for homeowners to generate their own electricity and cash from home solar panels, without making an upfront investment.
SolarLoan is the first dedicated loan that enables homeowners to "Pay-as-you-Save" for their solar PV system out of the Feed-In Tariff (FIT) payments and savings from their energy bills. Unlike other ways of financing solar panels, the homeowner owns the system from Day one, allowing them to gain all the benefits from the FIT and avoid any requirements for mortgage consent.
Most households will see savings immediately and will continue to save money even during the loan repayment period. Once the SolarLoan is paid off, all FIT income and energy savings go directly to the homeowner. Over the 25 year life span of the solar electric system, homeowners can see returns of up to Â£30,000 on a solar array installed for free with a SolarLoan.
"This is the next big step in UK solar," said Engensa CEO Toby Darbyshire. "Not only can SolarLoan offer homeowners all the benefits of a highly attractive financial investment without any upfront cost, it reduces the impact of inevitably rising energy costs and boosts the home's value."
SolarLoan financial benefits
Additional benefits of SolarLoan
"We are thrilled to offer a finance product that can benefit millions of UK homes, drive mass adoption of renewables, invigorate the solar industry and create jobs," added Darbyshire. "SolarLoan financingÂ underscores our commitment to innovation in both solar technology and business, to make solar energy easy and attainable for homeowners, independent of changing government policies."
SolarLoan is available from June 2012 to homeowners initially south of Birmingham with homeowners nationwide able to get a SolarLoan from October. Homeowners considering installing an Engensa solar system can find out more at http://www.engensa.com/SolarLoan.
Founded in 2009, Engensa is the UK's fastest-growing provider of home energy systems. Engensa's hand-picked experts work closely with homeowners to design, finance, install and maintain solar energy systems that match any budget and style of home. With the highest customer satisfaction rating in the industry, more than 90 per cent of Engensa's customers would go out of their way to recommend Engensa to their friends or neighbours. Engensa is privately funded and headquartered in London. For more information, visit http://www.engensa.com
Rebecca Geller, Caryn Lobley, Toby Pratt