In an effort to make this type of system more accessible to the population, state and commercial banks in Brazil have expanded their solar energy loan lines.

This increase in lines and demand for photovoltaic systems is the result of rising energy costs and the prospect of saving up to 95% on lighting costs when solar energy is produced.

Santander's Solar Energy Credit is among the best-known solar financing programmes. Consumers can invest in clean, renewable and economical energy sources for their residential, commercial and rural properties.

Individuals and companies with or without a bank account can purchase or install equipment to capture solar energy using Santander's solar credit line.

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Main advantages of financing solar energy from Santander

As well as making it easier for everyone to obtain renewable, non-greenhouse gas-emitting energy, Santander Solar Credit can provide a number of other benefits, among them:

• Financing of up to 100 per cent of the solar energy project, installation included;
• Payment terms of up to 96 months;
• Financing from 2,000 reais;
• With up to 120 days to pay the initial instalment, payment is simple;
• Low rates from 0.74% per month, subject to credit approval.

Santander solar energy: How to finance?

Consumers have two options for obtaining credit:

1. Through partner solar suppliers;
2. Directly with a Santander bank for customers who already have a quote for a photovoltaic system project.

The credit simulation can also be carried out quickly and easily on the bank's website or by a financial manager.

What are the contractual terms?

Payment option

Santander deposits the value of the project in cash in the supplier's account, so you have to negotiate the price directly with the system supplier.

Objective credit

Before taking out a loan, Santander has always recommended that customers check that the deal really suits their financial needs. Therefore, you should always study in order to effectively utilise the credit.

IOF (Tax on Financial Operations) (Tax on Financial Operations)

The monthly financing debit is deducted from the customer's personal or business current account, including all fees and IOF.

Total Cost-Effectiveness Ratio (CET)

The CET will vary according to the terms of the deal. Contact the call centre or your Santander manager to obtain the CET and the annual interest rate for the operation.

All those interested in taking out financing will be subject to credit analysis and approval, as well as any other terms and conditions in force at the time of contracting.

Advantages of buying a solar photovoltaic system

According to Absolar, Brazil registered 1 million solar energy users at the beginning of the year (Brazilian Photovoltaic Solar Energy Association).

This has occurred due to the numerous benefits offered by solar energy, among which we can highlight:

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• Low environmental impact;
• Protection against energy bill increases and tariff/band changes;
• An excellent alternative for locations that are difficult to access or inaccessible to power utilities;
• Long durability, with an average service life of 25 years;
• Low maintenance costs;
• Up to 95% in electricity bill savings;
• Property valuation;
• Converting your energy bill into an investment. With the prospect of 15 years without energy costs on average.