UK climate change and environment minister Ian Pearson has challenged energy companies, high street banks and consumer finance firms to offer flexible finance schemes to help boost take-up of microgeneration.
A low-cost finance scheme would complement measures outlined in the UK government’s microgeneration strategy aimed at stimulating widespread take-up of household microgeneration.
I passionately believe that it should be as easy to get finance for a wind turbine as it is for a sofa, Mr Pearson said. This could be through credit or loans, or it could be an energy service contract with the cost rolled up with a customer’s energy bills. Green mortgages or long-term leasing are other options that could be taken up.
My challenge today to the high street banks and consumer finance companies, energy suppliers and others is to work with the microgeneration companies to come up with new, innovative offerings, he continued.