If you are lucky enough to have a house that is suitable, solar panels can give you a great financial return, so why not spread the cost with a Gateway Credit Union Solar loan at 7.2% APR?
To find out if your roof is suitable use this solar energy calculator.
How do Solar Panels work?
Solar panels capture energy from the sun and convert it to produce clean electricity that your electricity supplier pays you for. These payments are called FIT payments and are index linked.
If you are eligible to receive FITs you will benefit in three ways:
How does the Gateway Solar Loan work?
First, get a survey and quote to see if your house is suitable and confirm that it meets the required energy efficiency standards.
Once you have your quote and your Energy Performance Certificate you can apply for a Solar Loan by using this form. As usual with a loan application we require proof of identity, address and household income.
We will then assess the application. If approved you can arrange an installation date. You will then need to pay in the deposit we have calculated, sign the agreement forms and become a member of Gateway Credit Union before installation takes place. The repayments will be partly paid by the FIT payments from your electricity company and partly by you in regular affordable monthly payments over 5 years.
Once installed and commissioned we will release the loan funds to the installer on receipt of an invoice from them, countersigned by you. Then enjoy lower electricity bills for 5 years after which the solar loan is paid of and for the next 15 years you will continue to enjoy reduced electricity bills and receive regular index linked FIT payments.
As usual, your savings and loan are covered by our free insurance.
Click here for a Solar Loan application form.