From earlier posts it’s easy to pick from threads our focus is combating fuel poverty – and providing an alternative source of nuclear-free energy. To mention our background, we began focusing on social homes working with social landlords and have broadened this to owner occupiers and the privately rented sector. Our new offering combines rooftop PV and battery storage.
But over and above social residents its you and I we’re focused on. I don’t know about you but I think living in the UK – and making any progress financially is very difficult, impossibly difficult even. I don’t know many people who can say at the end of the month they’ve done much else than break even. And we are the lucky ones, many millions of households cannot accomplish this; what should be, simple task. Actually this should read ‘expected task’.
I still remember the quote from Mr Micawber while studying David Copperfieldfor my English Lit O Level “Annual income twenty pounds, annual expenditure nineteen pounds and six, result happiness. Annual expenditure twenty pounds ought and six, result misery”. But with all the cuts going on and the fact real wage growth is pitifully low, severely under-performing inflation so many are forced into the twenty pounds ought and six category.
So the forthcoming announcement from North Star is aimed at us. Those in-work yet still having to balance finances. The aim is to lower our electricity bills in the real sense – i.e. they will really be lower unlike the Green Deal promises which at best were aimed at breaking even. Prices will be linked to inflation, not to electricity prices which give the Big 6 big bonuses – which are expected to double over the next 10 to 15 years, after having risen at an eye-watering 9.2% per year for the last 6 years, the highest rate in the EU. And there are quantifiable large CO2 savings, each roof saves 1 tonne of CO2 emissions each year.
To deliver this an important part of the equation we have covered-off is personal credit. In our view many companies view credit history incorrectly – it is to easy to have points taken off these reports and the reports have no information on a persons [current] ability or willingness to pay. Focusing just on a high credit score is wrong (for everyone else especially) and history clearly shows its flaws. Those with the highest credit ratings often have the highest borrowings too and in a down-cycle this is always exposed. So why use them? We have removed credit ratings entirely, those who want real savings can have them. ALL customers will pay 0% interest.
North Star Solar Ltd