Worried about rising energy bills? Installing solar panels could save you up to £690 a year. With no upfront cost, it’s easier than you think. Our Renewable Energy Loan can help you spread the cost of solar panels across manageable monthly repayments. Here’s what you need to know about solar panels and how to get started.
Why chose solar panels for your home?
Solar panels are a smart way to cut your electricity bills. By capturing the sun’s energy and converting it into electricity, you’re harnessing a free, renewable energy source to power your home.
If you generate more energy than you use, you can sell it back to the grid or store it with a battery for use later – boosting your savings even further.
Example savings: According to the Energy Savings Trust, a household in Manchester, where someone is home all day, could save up to £610 a year with solar panels. In London, savings rise to £690 a year. That means you’ll start reducing your energy bills straight away, while your solar panels pay for themselves over time.
How can I finance solar panels for my home?
Solar panel costs vary depending on your home and location – but you don’t need to pay upfront. At Lendology, we work with local council partners across England and Wales to offer accessible and flexible finance options through our Renewable Energy Loan. This means you can take action now, without the stress of large upfront costs.
Based on what’s available via your local council, we can offer:
- Borrowing from £500
- Fixed interest rates
- Representative 4.2% APR
- No early repayment charges
- Up to 15-year repayment period
How do renewable energy loans work?
At Lendology, we keep our loans simple: our flexible loan schemes are tailored to you. Depending on where you live, we can offer a range of loans through your local council. Our in-house team will guide you through every step of the process.
With our Renewable Energy Loan, you can fund:
- Solar PV systems (electricity-generating)
- Solar thermal systems (hot water)
- Air source heat pumps
- Biomass heating systems
- Other renewable energy measures for your home
Who can apply for a renewable energy loan?
Our loans are designed to be inclusive and accessible. As long as you’re a homeowner, we have no upper age limit and don’t restrict loans based on factors like credit history or whether you receive benefits.
Ready to go solar?
Ready to go solar? Start saving on energy bills. Apply for a no-deposit Renewable Energy Loan today. Get in touch with one of our in-house experts for more information, or begin your application now.
Representative Example (4% fixed interest rate, Representative 4.2% APR).
Borrow £5,000 over 60 months, £92.08 monthly repayments. Total amount repayable = £5,544.96, including £20 fee for registering the Title Restriction against your property at the Land Registry. The £20.00 fee is only payable if a loan is agreed by Lendology and you decide to proceed with a loan. We do not charge interest on the fee. A Title Restriction means that you may not be able to sell your home without our permission unless the loan is fully repaid. This is a financial promotion approved by Lendology CIC. Missing payments could affect your credit rating and ability to obtain credit in the future.
Loans are subject to status and are typically protected by a Title Restriction.
We recommend that you carry out an independent retrofit assessment to find out which works are suitable for your home and budget.
