Finance
Solar Conect working with ”La Caixa”
Solar energy is the way forward to help the environment and the planet, and we all know that, as the cost of fuel rises rapidly, we need to look at the alternatives that are on offer. Solar Conect is now collaborating with La Caixa to be able to offer their clients financial support for installing Solar energy into their property.
We all know the problem with finding money when it comes to improving our property or indeed building from new, as we are not always sure what the total costs will be. In addition, many people looking at solar alternatives have problems raising the initial capital to install it, although we realise that once installed it is going to save us money in the long term.
Now with La Caixa backing our customers, you have a chance to repay loans over 5 years, with an interest rate given by the bank that works out lower than normal personal loans. These loans can be given for a period of up to 5 years and if you are installing hot water only this means that the cost per month will be no more then paying your alternative energy bill, and of course after you have repaid your loan your hot water is virtually free.
If you are putting in larger installations such as underfloor heating and hot water systems, then you will pay your loan costs instead of what you would normally pay for your electric, solid fuel or gas bills, and after repayment, your energy costs will be very low.
For solar electric installations, the same principal applies, helping you through the first few years and reducing costs thereafter.
La Caixa and Solar Conect financial conditions:
Capital………………...up to a Maximum of 20.000 euros
Period of time…………Maximum of 5 years
Yearly interest rate at present……7%
Set up commission…….0.75%
Study commission……. 0%
Cancel commission…….0.5% on the capital in debt.
All loans subject to status and normal documentation required by the bank.
Normal personal loans attract an interest rate of around 8.25% and some set-up commissions for loans can be quite high. This offer therefore compares favourably with current interest rates on offer from the high street banks.
Malcolm de Ste Croix of Solar Conect hit upon the ingenious solution of setting up a deal with La Caixa bank whereby the installer can borrow the amount needed to fit a solar water heater and repay the loan at almost the equivalent rate that he would have spent purchasing gas bottles. So the system effectively costs next to nothing.