New third-party financing models will enable sales of low-carbon heating systems to grow rapidly to more than 100,000 installations per year in the UK, according to the latest research from Delta Energy and Environment (Delta-ee).
If made widely available, such support could significant boost the market from a base level estimated at <30,000 units currently, with Delta-ee figures suggesting that 40% of UK homeowners would rather use third-party finance to install low-carbon technologies than pay up front. Meanwhile, an increasing trend in the appeal of innovative finance has been identified over the last four years.
Steven Ashurst, Senior Analyst and Research Manager of Delta-ee’s Microgen Insight Service, commented: ‘Customers have shown that they are attracted to this kind of innovation, it’s clear that third party finance will be a catalyst for growth. It will require a lot of co-ordination from the supply chain to get the customer proposition right, but the effort is likely to pay off’.
Heating installers surveyed by Delta-ee believe that finance offerings (supported by a third party) will up their sales with almost two thirds of participating installation companies in favour of offering a finance deal.