Is Installing Solar Power Worthwhile?
Installing solar power makes financial sense at least in the long run. For the average family home it costs £6,000-£8,000 to install a solar power system the cost of which can be covered in less than 10 years by the savings you make with the help of government funding. This means that after 10 years the system has paid for itself and you start to make money from it.
Sadly most people do not have £6,000-£8,000 to hand to spend on one project. Luckily, it is possible to get a loan to help you to cover the cost of installing solar power. This kind of finance is sometimes called a Solar Loan.
Where Can I Get A Solar Loan?
You can get a solar loan from several sources including banks and building societies who will lend you money to install a solar system. The companies that actually install solar panel systems are another good source of solar loans. 
Currently you cannot get loans or grants from the government in the UK to help you to install a solar system, but this is due to change in October 2012. There are also plans to allow people who installed their systems prior to this date (as far back as July 2009) to claim back some money as well, but this has not yet been confirmed.
Can I Get An Interest Free Solar Loan?
If you run a business you can get an interest free solar loan from The Carbon Trust. The loan is unsecured and must be paid back within 4 years. The system has to cost between £3,000 and £100,000 and your business must be based in Northern Ireland or Wales. In England low interest loans are available for businesses, but not interest free solar loans.
Who is Eligible
Sadly if you are a home-owner interest free solar loans are not available, but you can negotiate a lower interest rate solar loan. This is particularly true if you plan to get your solar loan from the company that is going to install your solar power system. You are in a strong negotiating position with these companies, because they want the job of installing your system.
Who Can Help
Some local councils and charities occasionally offer help with installing solar power, so it is worth checking with them too. If you are on a low income or are elderly your chances of getting help with a low interest or interest free solar loan from an environmental group or charity are enhanced, but they are only available intermittently.
