Solar power more accessible for households through new ScottishPower financing plans

Today ScottishPower announced the addition of consumer finance into its Solar PV & Battery offering for the first time, removing barriers for customers to reduce their carbon footprint, and become less reliant on energy from the grid.

For many households, the upfront cost of solar panels and batteries can present a real challenge, particularly in the current economic climate. Now, with ScottishPower, you can spread the cost of solar solutions over 3 to 5 years with no deposit and zero VAT, as part of an integrated end-to-end new service.  They are offering flexible payment options, where customers can either pay in full or spread the cost into monthly payments, which start from £132.452 per month

Solar panels capture energy from daylight and turn it into electricity that can be used to power households. The more panels a customer has, the more electricity they can generate to make their home more efficient.  By switching to solar customers can potentially save up to £1,237 a year on their electricity bills.[1)

Having a home battery installed and linked to the panels can also allow households to store excess energy for use later too or can be exported back to the Grid for additional income.

“We’re very pleased to be able to offer new payment options to give our customers the ability to switch to solar power sooner”, said Andrew Ward, CEO of ScottishPower Retail. “Solar panels allow customers to generate their own electricity and get paid for any excess that can be exported, providing longer-term savings for our customers.  As the UK moves towards net zero, decarbonising our homes is crucial to reduce the country’s overall carbon footprint”.

Dealing directly with ScottishPower makes the whole solar process easy, with green energy experts ready to manage the whole installation process for those keen to make the switch, with a finance product that removes the upfront cost barrier and a competitive export tariff all in one place.

The new financing offer confirms the company’s commitment to growing the renewables market across the UK, where it is the only 100% green integrated utility.

Further information:

• Finance plans will be made via monthly payments with an interest rate of 11.9%
• There are government incentives available for customers in Scotland which could help pay for their solar panel and battery solutions.
• Customers can request a Guide Price at Solar power | Gas and Electricity Company | ScottishPower which gives them an indicative cost for their home alongside examples of what loan repayments could be.

Read the latest issue of the OGV Energy magazine HERE