The Council is running the pilot loan scheme through its Renewable Energy Advice Service which launched last July.
The loans will help local residents cover the initial cost of purchasing renewable energy systems, such as solar panels or heat pumps and are repayable monthly over a period of one to three years.
Joanna Brooks, Arun District Council's Energy Efficiency Officer, said: "We have all seen our energy bills rise and rise in recent years and this will continue. In fact, by 2020 the energy regulator predicts that energy prices could rise by 60% and many think it could be even worse.
-- Advertisement --
"However, the new Feed-in-Tariff which started this month is a new measure to make it worth your while to produce renewable electricity at home. You can earn a fixed income for every kilowatt hour of electricity you generate and use in your property plus an additional fixed income for electricity you generate and sell back to the grid. When you can't generate enough electricity for your needs (i.e. when the wind doesn’t blow or the sun doesn’t shine) you buy electricity from your utility company at the normal rates but of course you won't need quite as much electricity than you currently buy."
To qualify for an interest free loan, the applicant must be the owner-occupier or private landlord of the property and must meet certain basic eligibility criteria and energy efficiency requirements.
Funding is limited and applications will be accepted on a first come first served basis.
(CD/GK)
