Exeter-based installer SunGift Solar has announced a new finance package for customers that will remove the upfront cost of purchasing solar panels outright. The company’s ‘green energy’ finance will allow customers to install a system at no upfront cost but still enjoy the full benefit of the associated feed-in tariff payments.

SunGift Solar estimates that the FiT income and electricity savings generated by a typical 4kWp domestic array will not only meet householders’ finance repayments, but also earn the customer an additional £18,000 over 20 years.

SunGift will be offering the unsecured finance at a rate of 9.92% through its financial partner Shawbrook Bank. Loans will be available for between three and 15 years for up to £50,000.

SunGift partnered with Shawbrook after spending more than a year looking for a finance partner that shared its ethos and ethical approach to customer service. 

Gabriel Wondrausch, Managing Director of SunGift Solar, said: “We believe that renewable energy should be affordable for everyone, and this scheme will ensure that green electricity is not only accessible for homeowners, but also that it generates them a substantial additional income without the capital investment.  As a result, householders will fully own the systems on their roofs and receive all of the associated FiT payments.

“One of the biggest worries for many people is rising energy costs. They have risen by 140% in the past eight years to an average of £1,225 per year and are expected to increase to more than £2,200 per year by 2020. Installing solar PV will help householders protect themselves from these price rises and be in control of their own energy future.”