Discuss green bank finance? in the Solar PV Forum area at ElectriciansForums.net

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infinity

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fareham
Ive heard somewhere about finance available for commercial premises to install things such as PV and other energy saving measures.

Does anyone know where i can access this info? or has anyone used this to fund any projects?
 
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infinity

infinity

Solar Guru
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fareham
have been looking there but it all seems to be based around domestic borrowing.
Im more looking for whatever replaced the siemens carbon trust that was in use a year or so ago
 

MCS Renewables

Solar Guru
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Poole Dorset
The Green Deal covers commercial installations.
The Green Deal soft starts this October with funding for Domestic , I understand GD Commercial funding is available from January 2013.
However the GD Commercial will need a Commercial GD Advisor and I know of no courses yet ?!

Commercial GD same as above 7% interest, loan to property repaid through electricity bill, Golden Rule still applies.
 

SolarRoofSols

Regular EF Member
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The Green Deal covers commercial installations.
The Green Deal soft starts this October with funding for Domestic
Call me a pessimist but with a little over a month to go and the regulatory bodies (NAPIT, by their own admission last week!) still unsure about what it will entails for installers or assessors, I will eat my straw fedora if the Green Deal is launched, working and understood by the public, let alone the 'experts' by October.
 
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solarfred

Carbon Trust have an ongoing scheme for "green" finance. I am not going to relay it all here but check the website. It is very focused on energy reduction measures and PV is considered to be an energy generator so does not actually qualify however it can form a part of any plan. This is the UK so do not expect it to be simple or reliable from an investment perspective.
If anyone has a Consumer Credit Licence and is interested in some lucrative business please let me know as I am currently in touch with CT and Siemens and some neat opportunities.
 
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infinity

infinity

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Have spoken to carbon trust and were very helpful. Im now in process of filling in forms for the application for the customer and it all looks reletively straight forward.

On the other hand... was approached by WECREDIT about offering finance to domestic customers which seems a great idea, anyone else use this sort of thing? and is there much call for it?
 
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solarfred

If you are going to be supplying the business to Siemens then you need a Consumer Credit Licence. If you don't have one then the customer needs to apply direct to Siemens and Siemens will use their own CCL to make any offer.
If the loan is under £25,000

Also the interest rate is 6% or thereabouts.
 
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sedgy34

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If you are going to be supplying the business to Siemens then you need a Consumer Credit Licence. If you don't have one then the customer needs to apply direct to Siemens and Siemens will use their own CCL to make any offer.
If the loan is under £25,000

Also the interest rate is 6% or thereabouts.
6% is dependant on the customers credit score
 
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solarfred

Yes you are correct! I am not sure at what point they decline to offer. They require 3 years audited accounts and an "acceptable" credit score.
 

grantr37

Trainee Access
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they call everything green or "eco" now just so that they can charge you premium prices.....green electric tarrif.....green parcel service......carbon offset car hire........I seen car insurance today offering to "offset your carbon from driving " for "just" an extra £249 a year......what does that do? does it suck in all your pollution and put it in the bank, or does it just fill some traders pockets shuffling useless bonds around the market doing bgger all and make them super rich? oh and please don't tell me that they plant trees with the money or use it to buy pollution rights from third world countries....thats all a con....just like the card trick guy on the tv tricking people....
 

SolarRoofSols

Regular EF Member
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358
Location
Sheffield
ouch!!

the example on their website is over 30%APR
thats untenable!
I have just spoken to Wecredit as this is something I have been meaning to look into for a potential commercial client.

Wecredit - I was told that APR was between 5 - 14% for unsecured loans and could go to 2% for secured loans, no mention of 30% though it is on their website. you do get 1% commission and the 'fee' per year is £495 + VAT for a minimum of 2 years, but you don't need a consumer credit license.

The downside is that they don't lend to companies wanting to purchase PV.

The Siemans loan only works for customers with 3 years worth of accounts. Has anyone set up finance for a company that is a start up? Can anyone recommend a commercial lender?
 
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