Labour mulls cheap loans for solar panels

The Government is considering grants or loans to encourage the take up of solar panels and storage batteries, with householders targeted to help meet election pledges and diversify the energy network.

To say things haven’t exactly gone well so far for Labour might be an understatement, and politically the Government needs to see some ‘wins’ soon, with a manifesto promise to reduce energy bills provide zero-carbon electricity by 2030 (now reduced to 95 per cent), the Government is reviewing its options to accelerate the transition.

Finance options could include up front grants and loans or even schemes that repay through savings, and the installation of batteries leads rather neatly to the addition of heat pumps alongside or at a later date.

Some reports have estimated the size of the financial packages considered to the near £7bn.

Other options include revisiting the feed in tariff, which is currently at a low level, although any return to the generous initial programme is unlikely.



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