Friday, July 4, 2008

Bank Hapoalim offers loans for domestic solar panels

Hi Everyone!

Below is an article from Globes about financial assitance in purchasing a home solar power system. I am currently working on a website about Solar Energy in Israel and I hope to launch it soon.
Chodesh Tov,

Bank Hapoalim has launched a financing package for private customers to buy home solar systems. The bank says on its website that it is offering customers full financing at low interest rates for up to ten years.

The bank added that the product was the first in a series of eco-friendly financial solutions that will support market needs in dealing with environmental issues. The bank said that, in addition to the contribution to the environment, it sees a business opportunity in a growing market.
The government recently published regulations under which Israel Electric Corporation will, from July 1, buy the surplus power from private producers of solar power generated electricity.

A homeowner with a solar power system will be eligible for a NIS 2.04 per kilowatt/hour (kw/h) rebate on electricity produced, and will pay NIS 0.50 per kw/h for electricity consumed. The result is cash flow. The return on investment in the system is estimated at 8-10 years. The regulations offer homeowners the financial incentive to encourage the installation of household solar power systems, in addition to the homeowners' environmental awareness.


helen said...

Great article Jacob. I think solar panels on homes can only be good thing and its is a good move for Bank Hapoalim to offer loans to people to help them get these expensive systems installed. As energy demands continually rise, measures like these are going to become more common.

Anonymous said...

Jacob its very nice blog. And also it is very helpful to the country of Israel that the Bank Hapoalim is offering loans. And also it is a good help for other people. Especially when it comes to financial problems. Thanks.