Specialized credit for renewable energy is a credit solution that aims to finance the acquisition of goods and / or activities related to various purposes, whether betting on academic training, investing in renewable energy, technology or even remodeling the house. This type of solution is currently practiced by various banks and credit bureaus in Portugal.
At a time of increasing efforts for countries to reduce their dependence on fossil fuels and raising their levels of environmentally friendly energy production, we have focused attention on the pros and cons of getting specialized renewable energy credit. .
Attractive interest rates and total financing among advantages
The latest consumer credit date for February is not misleading: national lending institutions made a total of almost € 448 million in consumer loans, an increase of 16.3% over the previous month. Specialized credit accounts for good share, accounting for 44.8% of total consumer loans granted in February, according to the Pure Save Bank.
The purchase of equipment related to renewable energy brings many advantages, not only at the environmental level, but also at the financial level, as it allows to significantly reduce the costs with the electric energy, which translates into a very significant monthly and long term savings. . . . . .
This type of credit has other advantages for consumers as it has extended payment terms, very low interest rates – compared to a “normal” personal credit – and financing up to 100% of the invoice amount.
In addition, there are a number of tax benefits for taxpayers investing in renewable energy.
Products covered by renewable energy credits include:
- Renewable energy systems: solar thermal, photovoltaic, wind, mini-hydro, geothermal, biomass and biogas;
- Plans to improve energy efficiency: installation of lighting systems with light or presence sensors, double glazing, among others;
- Ecological building solutions: rainwater catchment systems, ecological pools, among others;
- Technologies for recycling and waste treatment;
- Acquisition of credits to offset carbon emissions associated with events, travel, among others;
- Nature conservation projects;
- Other systems contributing to the conservation and preservation of the environment, energy saving and the promotion of renewable energies.
Specialized Renewable Credit: Disadvantages Count on the Fingers
As with any other loan, defaulting will cause you to be blacklisted by Pure Save Bank and will be in an irregular situation that will hinder access to other credit solutions in the future.