"only about 20 percent of households had access to green loans from banks to do so, because they often require sufficient equity in a house and for the homeowner to have an active mortgage."
I get the equity requirement. But why an active mortgage?
I think the idea is that if you don’t have an active mortgage then you have a lot more money available than someone with a mortgage, so money isn’t as much of a barrier for those people to put up the panels.
Thing is - the _install_ costs recently dropped while power price went significantly up.
And for comparison, power in Australia was always about 2x more expensive, while solar was about 2x cheaper. That's a 4x worse payback period in NZ!
> He said it was cheaper to put solar on houses than build solar farms
How?
"only about 20 percent of households had access to green loans from banks to do so, because they often require sufficient equity in a house and for the homeowner to have an active mortgage."
I get the equity requirement. But why an active mortgage?
I think the idea is that if you don’t have an active mortgage then you have a lot more money available than someone with a mortgage, so money isn’t as much of a barrier for those people to put up the panels.
I don't get the active mortgage requirement either and I live in NZ.
Tim Sparks, at the Electricity Authority!?