UK green energy company SolarTech has launched
a leasing option to fund renewable energy technology for
The deals, which will provide funding for the
installation of photovoltaic (PV) electricity, solar hot water,
heat pumps, biomass heating and wind power equipment, will be
managed with the support of a major European bank.
The contracts with public and private sector
customers will range from £10,000 to over £1m with no upper limit.
The average deal size will be around £250,000.
The lease of equipment will typically span a
10-year period after which ownership of the equipment will transfer
to the customer.
SolarTech said the financing option means
customers will benefit from minimal upfront installation costs and
make immediate savings on the cost of their energy consumption.
Tax-free income from the Feed-in tariff or the
Renewable Heat Incentive, government schemes which pay the owner of
a renewable installation for electricity generated, will go
directly to customer.
Shaun Taylor, managing director of SolarTech,
said: “With our new lease funding package, we can now offer clients
the best of all worlds – installation without capital outlay,
reduced energy costs plus an immediate source of income generation
from renewable energy tariffs.”