E.On launches 12 month interest-free payment plan for solar-plus-storage

E.On has launched a 12 month repayment plan for its solar and storage offering in an effort to help interested homeowners overcome the upfront costs of installing the technologies.

The utility launched E.On Solar and Storage in April 2017 and will now allow customers to pay back the cost of installation over 12 interest-free monthly payments. E.ON says this will offer people more flexibility when it comes to paying for solar panels and battery technology, with upfront costs often acting as a barrier to take-up.

Gavin Stokes, head of commercial solutions at E.On, said: “At E.On, we’re committed to providing smarter, sustainable solutions for our customers and to making these as affordable as possible.

“That’s why we’ve launched our 12 month interest free payment plan which gives people the opportunity to install innovative, renewable technology through E.On Solar and Storage without having to pay for it in one go.”

“We’re constantly looking for ways to make energy easier for our customers – in both the short and long term. From smart meters to our new interest-free solar and battery offering, we’re demonstrating our dedication to providing people with simple solutions developed with the customer in mind.”

E.On’s combined solar-plus-storage options begin at £6,045, with the offer only available to new Solar and Storage customers.

The utility says the technologies can offer customers “significant amounts” on their electricity bills of around £400 for those who fit both solar and storage. These figures relate to a ~4kW solar install with a 9.8kWh battery plus a deemed export of 50%.

In addition, some money is still available from the UK’s feed-in tariff which added to savings accrued from solar-plus-storage systems could result in around £630 each year. While this amounts to more than the cost of one month’s payment for the cheapest combined option, E.On has said monthly repayments would vary upon “the best solar and storage solution for each individual customer”.

“We’re always looking to provide innovative solutions for our customers and to make new technologies as affordable as possible, which is why we’ve launched our Solar and Storage payment plan as well as up to four years interest free finance on a replacement boiler,” a spokesperson told Solar Power Portal.