Ulster Bank has become the first bank in the UK to offer a scheme to encourage energy savings measures.

It is offering a three-year discounted solar mortgage of half of the bank’s variable rate for homeowners who wish to fit photovoltaic panels.

Dr Mark Bailey, Economy spokesperson of the Green Party says “It is excellent that a Northern Irish bank is taking this initiative in encouraging people to make a positive change to their home in order to aid the environment and we hope that other banks will follow their lead into this new and exciting market segment.

However, it is unfortunate that the Government both here and in Westminster do not do more to follow their lead.

Of the estimated £12000 cost of a photovoltaic installation, 5% (£600) is going to the Treasury in the form of VAT.

Our own local assembly is proposing to cut Reconnect Grants which subsidised the installation of alternative energy products for households such as photovoltaic panels.

To make the Green change for the future of Northern Ireland requires action from all of us – homeowners, banks and government.”

Dr Mark Bailey

Green Party Economy spokesperson & East Antrim organiser