Homeco Energy - Exclusive Sharp & Hitachi Solar Loans for Domestic & Commercial Solar Installations
New financing offer to help businesses fund deployment of Sharp solar panels via Sharp approved installer Homeco Energy
Electronics giants Sharp and Hitachi have today unveiled an innovative finance deal to provide loans to homeowners and , in a bid to boost sales of solar photovoltaics in the wake of deep cuts to feed-in tariffs.
Sharp Solar and Hitachi Capital will offer UK customers a series of financing options, which are expected to be rolled out across Europe over the coming months. Businesses and homeowners installing solar PV panels using Sharp-certified installers will be able to apply for loans from Hitachi Capital.
The minimum transaction for business customers will be £25,000, and financing will be available for terms of between seven and 10 years. Private households will have access to a shorter loan period of three to 10 years. Sharp did not disclose the minimum transaction value for domestic customers.
Plans for the deal were revealed by BusinessGreen earlier this year; speaking at the time, Andrew Lee, general manager for Sharp's solar commercial sales division, said the loan offer, together with a new "solar kit", could could cut the cost of solar power by between five and 15 per cent.
BusinessGreen understands the deal between the two companies was signed in June, but the announcement was delayed by a number of weeks as they finalised its finer details.
Sharp Energy Solution Europe executive vice president Peter Thiele said the deal would help boost sales of Sharp's new solar kits. "This co-operation is an important step for us because our strategy is particularly focused on the field of small-scale systems for private households, and it is precisely this sector which has seen an explosion in demand for financing options in recent years," he said.
BusinessGreen has also learnt Sharp Solar is still mulling a final decision on plans to move its solar headquarters to Wrexham, Wales – where it already has a manufacturing plant employing 500 people – despite Lee having told BusinessGreen in June that it was poised to confirm the plans.
The news was hailed as a major boost for the UK solar power industry in the wake of deep cuts to the feed-in tariff incentive that companies fear would kill of the industry.
However, today a spokeswoman for Sharp would only reveal that confirmation of the move might come later this year, adding that she was unable to provide any further details on the proposed move due to commercial sensitivities.