Each homeowner can borrow up to $30,000 over a period of one to five years to finance the installation of solar panels and accelerate clean energy.
The loan facility offers the owner a term-financing option to install solar panels which defrays upstream costs in order to speed up clean energy consumption.
With one- to five years, each homeowner can borrow up to $30,000 to provide more flexibility for borrowers during the refund period.
In an exclusive partnership, the bank has signed a solar energy evaluation on-site with Sembcorp Power, the electric retail arm of Sembcorp Industries. OCBC has revealed that the initial consultation costs will be borne by Sembcorp Power.
The retail offer for solar panels is one of the key ways to implement and improve accessibility to green energy sources to Singapore’s landed homeowners, Sunny Quek, head of Consumer Financial Services, Singapore at Singapore, said.
“We are glad to launch this loan,” BT quoted, “this is the first but an important step to help us reconsider their way of seeing electricity.
The partnership was described as the timely step towards making more consumer affordable, clean energy by Valerie Lee, Head of Consumer Business at Sembcorp Energy, Singapore.
“Segcorp Power is able to expand competitive electricity pricing schemes, supported by a suite of sustainable solutions, and allow homeowners to obtain additional energy with their green renewable energy certificates and save more money,’ BT said.