The government have launched a new scheme that aims to help people install clean energy technology.
The Warm Homes Loan scheme will offer no and low-interest loans for solar panel, heat pump, battery and many other installations.
The largest maximum loans available are for biomass boilers, micro-renewable systems and air-water source heat pumps, where people can borrow up to £20,000.
For solar panels and battery storage, the maximum loan is £15,000.
Energy Secretary Miatta Fahnbulleh said: “Energy is an everyday essential that must be affordable for everyone. These government-supported loans will help families across the UK upgrade their homes with no upfront costs to make them warmer and cheaper to run.”
Labour says it has worked with lenders to deliver an up to 5% reduction in interest rates from regular loans offered by banks or high street lenders.
Good Energy have been named as one of the companies that will participate in the scheme.
Carl Hogg, Managing Director of Services at Good Energy, said: “UK households increasingly want solar panels to generate their own electricity and reduce their exposure to volatile energy prices, but the upfront cost is often a barrier.
“Being able to spread that investment with finance changes the equation, giving households another route to installing solar and beginning to generate their own renewable electricity at home.”
The loans are available across the entire UK and Labour claim that clean energy home upgrades can reduce bills and leave households less exposed to price shocks caused by international conflicts.
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