The Bank Model differs from the Business Model in that the bank doesn’t do any actual installation of solar panels, it simply acts as a middle-man and financier for solar panels. This method would be effective because the banks have all the money, and therefore all the power.
Loans for home improvements already exist, but the movement to get banks to loan specifically for green improvements is only just starting to take shape. If banks have all the power because they have all the money, they can set up specific terms for the loans that require the homeowner do certain things as part of the loan. For example, before the homeowner can install the solar panels, they must complete a home energy inspection (as outlined in the Business Model tab).They can also offer those specific loans for green improvements at a lower interest rate – something that will bolster the bank’s image as well.
We’ve seen that financial incentives have a lot of power (as evidenced through government tax breaks), so we already know that banks have the power to influence solar and green home improvements. Now we need to get the banks to harness that power.
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