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Sharp and Hitachi unveil innovative finance deal to encourage solar panel use

Electronics giants Sharp and Hitachi have unveiled an innovative finance deal to provide loans to homeowners and businesses, in a bid to boost sales of solar panels in the wake of deep cuts to government subsidies. Sharp Solar and Hitachi Capital will offer UK customers a series of financing options, which are expected to be rolled out across Europe over the coming months. Businesses and homeowners installing solar PV panels using Sharp-certified installers will be able to apply for loans from Hitachi Capital. The minimum transaction for business customers will be £25,000, and financing will be available for terms of between seven and 10 years. Sharp did not disclose the minimum transaction value for domestic customers.

The news was hailed as a major boost for the UK solar power industry in the wake of deep cuts to the feed-in tariff incentive that companies fear would kill of the industry.

(Source: Business Green)

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31 July 2012