The Solar Nation, a network of solar panel installers, has partnered with Hometree to provide financing options for people looking to install residential solar panels.
Hometree’s Solar Plan is a no-down payment financing option that allows potential solar panel owners to spread the cost of their solar panel installation over five to 25 years. Those using Solar Nation’s installer network can now easily access this financing package, regardless of which local installer they use.
Kevin Holland, MD of The Solar Shed Ltd and Founder of the Solar Nation Network said: “The solar industry has been waiting for this solution for over a decade. Short-term, high-interest loans don’t make sense for homeowners installing solar because they don’t reflect the long-term, gradual payback provided by the systems.
“With Hometree’s Solar Plan, customers can place an order with no upfront costs, have the equipment installed and immediately reap the benefits of electricity bill savings, lower carbon emissions and greater energy independence, while spreading the payment over the lifetime of the system.”
Simon Phelan, founder and CEO of Hometree, added: “Like the new UK government, we believe that decarbonising our homes and the UK is the future. Green finance is the way forward to enable home decarbonisation, and our innovative leasing arrangements enable customers to make the switch to sustainable energy solutions with confidence.
“This is part of our mission to decarbonise one million homes by 2030. By offering affordable installations, plus ongoing maintenance and service, we can help homeowners and support the UK’s net zero targets.”
The latest initiative from Hometree
Hometree has made significant gains in recent months. In June, the company secured a £250m asset-backed debt facility from Barclays to support its target to finance more than 28,000 residential solar PV systems, battery storage and heat pump projects over the next two years.
Meanwhile, other companies are going even further to encourage residential solar installations. Utility company OVO Energy recently expanded its Beyond rewards program so customers can save up to five free solar panels over two years, which can then be exchanged for an OVO solar and battery pack.
