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Growing global awareness of climate change or the favourable legislation passed in Spain in recent months, in particular the elimination of the so-called “sun tax”, is leading to a rise in the number of people considering the changeover to self-consumption solar energy.

Yet despite this increasing interest, homeowners are all too often reluctant to switch over to this apparently desirable and responsible form of energy consumption. Essentially, they are discouraged by the initial financial outlay photovoltaic installations require, despite knowing that the investment will be recovered relatively quickly and that their efforts in this sense will lead to future savings

Indeed, whilst we have no qualms about applying for a loan in order to buy a home, car and even furniture or other consumer goods, when it comes to producing and consuming our own energy, and therefore becoming its owners, a completely different mind-set comes into play (much to the delight of the electricity companies).

Baleares Renovables has come up with a solution designed for everyone who is put off by this initial outlay. We have reached an agreement with Sabadell Consumer to finance solar power installation. Furthermore, customers can receive up to 30,000 euros to make other energy efficiency improvements to their homes. This enables them not only to consider installing photovoltaic panels, but also changing their traditional boiler for an aerothermal alternative, adding interior or exterior thermal insulation (ETIS) , or replacing windows with more efficient models.

As for the terms and conditions (SEE CHART), a 5,000 euro loan over 5 years (the amortisation period for a standard photovoltaic installation) would mean a monthly instalment of less than 100 euros. Not only would users immediately have the solar energy kilowatts at their disposal, but also, once they had repaid the load, they would be able to take advantage of this system for a further 20 years (the installation comes with a 25 year guarantee), with the corresponding savings on energy bills.

Completing the loan formalities is quick and easy. The initial study takes just 5 minutes, and if the data provided are correct, the operation can be formalised in 24 hours. It is also available for property owners’ associations.

A further factor for consideration is that the photovoltaic installations are part of the building and are therefore subject to tax regulations. What’s more, they will also add to the value of the home as an equity asset.

Another key point is that this financial product is fully compatible with the Balearic Island government’s grants for the installation of photovoltaic panels.

In short, with this collaboration agreement, TeBaleares Renovables intends to do away with a major obstacle preventing residents from moving towards an energy consumption model in keeping with the times we live in, as well as with their environmental concerns and their pockets.

Baleares Renovables is inviting property owners to consider whether they prefer continuing to pay monthly fees to their electricity company without obtaining any type of return, or to pay bank interest rates for a period in exchange for an investment that will increase the value of their home and enable them to consumer solar energy right from the start, as well as benefitting from far lower costs over an extended period. Now more than ever, the decision to opt for a more environmentally friendly and economical energy alternative is in your hands.