A new report sets out how government-backed finance could make rooftop solar more affordable for UK households, helping to reduce energy bills and expand access to clean energy.
The report, A Right to the Sun, was authored by Dr Donal Brown, Senior Researcher in energy policy and political economy at the Environmental Change Institute (ECI), and published by the Common Wealth thinktank.
It proposes a universal Solar Bond scheme under which all households with a suitable roof would be eligible to access solar panels, without credit checks or other eligibility requirements associated with conventional loans.
The cost would be repaid over 25 years through household energy bills, with the finance attached to the property rather than the individual. As Dr Brown explains: “If you move out, the loan and finance stays with the home”, meaning the panels and remaining repayments would pass to the next occupier.
The proposal aims to address the high upfront cost of solar installations, which can typically cost £5,000–£10,000, and the relatively high interest rates available through commercial finance. The report estimates that households could save at least £250 a year on their energy bills under the proposed scheme.
The report also proposes that the government could raise finance through retail Solar Bonds, allowing people to invest their savings in renewable energy infrastructure while helping to fund installations for other households.
It argues that expanding access to rooftop solar could help reduce household energy costs, strengthen energy security and increase public participation in the UK’s transition to renewable energy.
Read the report on the Common Wealth website: A Right to the Sun: How a New Solar Bond Can Cut Bills and Build Energy Security