"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!
"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!?