How to finance Solar Panels?

solar panels financing
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The transition to renewable energy has never been more crucial, and solar energy is rapidly emerging as a leading alternative to traditional energy sources. By harnessing sunlight to generate electricity, solar panels offer a renewable and cost-effective solution for households and businesses alike. However, the initial investment for such installations can be daunting. In the UK, Eagle Electrical, a premier provider of solar panels installation services, has taken it upon itself to help you understand the various financial aids and schemes available, such as the ECO4 scheme and Smart Export Guarantee (SEG).

Understanding the ECO4 Scheme

The ECO4 scheme is a government initiative designed to help reduce the UK’s energy consumption and support people living in fuel poverty. It does so by funding energy efficiency improvements in the homes of eligible candidates, which include low-income and vulnerable households.

While the previous versions of the ECO scheme focused primarily on insulation and heating upgrades, ECO4 has expanded its scope to include renewable technology like solar panels. This scheme can significantly reduce the financial burden of installing solar panels, making renewable energy more accessible to a wider audience.

At Eagle Electrical, we can guide you through the process of applying for the ECO4 scheme, ensuring you understand the criteria and steps involved.

Profiting with the Smart Export Guarantee

The Smart Export Guarantee (SEG) is another initiative that not only makes solar panel installation more affordable but can also enable homeowners to profit from their investment. The SEG requires energy suppliers with over 150,000 customers to pay for any surplus renewable electricity that households and small businesses export back to the grid.

If you generate more electricity than you use with your solar panels, this excess energy can be sold back to the grid, earning you additional income. The SEG makes the prospect of solar energy even more appealing, turning homes and businesses into potential power stations.

Eagle Electrical can help you navigate the requirements and processes of the SEG, ensuring that you can make the most of your solar panels.

Financing Your Solar Panels with Eagle Electrical

In addition to these schemes, Eagle Electrical offers customised financing solutions designed to make your transition to solar energy as smooth and affordable as possible.


Our Pay-As-You-Save (PAYS) scheme is a unique approach where your solar panels essentially pay for themselves over time through the savings you make on your electricity bills.

Solar Loans

Solar loans are another viable option for many. These are low-interest loans designed specifically for solar panel installation, and they allow you to spread the cost of your investment over a period of several years.

Eagle Electrical is committed to guiding you through these financing options, ensuring you choose a plan that aligns with your financial situation and energy needs.

Why Financing Solar Panels is a Wise Investment

Financing solar panels offers numerous advantages:

  • Reduced Energy Bills: Once your solar panels are installed, you’ll immediately begin to see reductions in your energy bills.

  • Increased Property Value: Properties with solar panels are in high demand on the property market, increasing the value of your property.

  • Positive Environmental Impact: Solar panels contribute significantly to a reduction in greenhouse gas emissions, helping you do your part in mitigating climate change.

Eagle Electrical’s team of experts are here to make your journey to renewable energy a seamless one. We’re Lincolnshire’s leading experts in solar panel installations. With an understanding of solar panel financing, the ECO4 scheme, and the Smart Export Guarantee, we ensure you get the best advice tailored to your unique situation. Together, we can light the way to a brighter, greener future.