Low-cost loans for solar panels could save households hundreds on bills – thinktanks

New Economics Foundation and Finance Innovation Lab suggest loan scheme backed by Bank of England could benefit up to 8m homes

Millions of UK households could save hundreds of pounds a year on their energy bills if the government were to approve low-cost loans for solar panel installation, research has found.

Solar panels with batteries are one of the cheapest ways to generate electricity and reduce energy bills, but with an upfront cost of about £6,000 they are still beyond the reach of most cash-strapped UK households while other countries forge ahead with installation.