Solar finance: A UK homeowner's guide
You no longer need the full lump sum in the bank to go solar.
Solar finance is making it easier for more UK homeowners to switch to solar without the challenge of paying the full cost upfront. By buying solar panels on finance through Good Energy, you can spread the cost through monthly payments at 9.9%APR representative instead.
But before deciding whether buying solar panels on finance is right for your home, it’s worth understanding how the costs, savings and payment options compare. In this guide, we’ll explain how solar finance works, who it’s best suited to, and the key pros and cons to consider.
What is solar finance?
Solar finance is a way to spread the cost of a solar panel system over time through fixed monthly payments, 9.9%APR representative, rather than paying for it all at once.
That means you can start generating your own renewable electricity straight away, without needing a lump sum in the bank.
To give you a clearer picture, here’s how the two payment options compare for a typical 10-panel (4.75kW) system with Good Energy. Credit is subject to status and affordability.
| Good Energy solar panel payment options | Paying upfront | Paying with solar finance |
| Upfront cost | Starting from £6,380 | Upfront deposit of 25%* |
| Monthly payments | None | Spread over 5, 7, 8 or 10 years |
| Interest | None | Annual interest rate 9.9% fixed, 9.9%APR representative |
| Annual savings potential | Up to £852** | Up to £852** |
| Total paid over term | System cost | System cost + interest |
| Earliest you start saving on your energy bills | Day one | Day one |
Who should choose solar panel finance?
Solar finance isn’t right for everyone, but it’s a great option for a lot of households. It tends to work best if you:
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- Want to go solar now, but don’t have the full cost available upfront.
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- Would rather keep your savings intact and spread the cost over time. 9.9%APR representative.
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- Plan to stay in your home long enough to benefit from lower energy bills.
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- Want predictable monthly outgoings and the ability to start saving on energy bills immediately.
Is solar finance worth it?
If you have the savings available, paying upfront will almost always deliver the best long-term financial return because you won’t pay any interest. However, for many households, solar finance is what makes solar possible in the first place. For those households, there are 3 key reasons why solar finance is worth it:
1. Waiting years to save up for the upfront cost could mean missing out on lower energy bills in the meantime.
2. Generating more of your own electricity can help reduce your reliance on the grid and protect against rising energy prices.
3. Unless you move house, the system will continue generating electricity and help you save on your energy bill long after the term ends.
It’s a bit like getting a sofa on finance. If you can afford to pay upfront, you’ll usually save more in the long run. But, by choosing finance as your preferred way to pay, you can have it in your living room from day one – spreading the cost over time.
Pros and cons of solar finance
It’s important to consider the pros and cons of solar finance. Solar finance won’t be the right choice for everyone, so use the table below to see how it compares to paying upfront.
| Pros | Cons |
| Lower upfront cost: 25% deposit is required before installation*. | Interest reduces savings: You’ll pay more over the lifetime of the system. |
| Immediate energy savings: Begin cutting energy bills from day one. | Bank agreement required: Your application needs to be accepted by a lender. |
| Control your contract length: Pick a term most suitable to you. | Moving home: If you move during the loan term, you’ll still be responsible for repaying the loan unless you choose to settle it early. |
| Fixed monthly payment: Predictable monthly repayments for your solar system. | |
| Early repayment: You can choose to settle the loan early. |
In a time of rising energy costs, solar finance can kickstart your journey towards lower energy bills, greater energy independence and more control over how your home is powered. The right option depends on your budget, financial priorities and how soon you want to make the switch to solar.
Solar finance UK FAQs
The cost of a solar panel system varies depending on the size and specification of the system. To see our latest package prices, click here.
To get in touch with our team for a personalised quote based on your roof and energy use, click here.
Yes. At Good Energy, we offer solar finance packages that let you spread the cost over 60, 84, 96 or 120 months at 9.9%APR representative. You’ll need to be a homeowner and your application will need to be approved by a lender. Credit is subject to status and affordability.
With financing, you’ll pay the cost of your system plus interest at 9.9%APR representative over your chosen term. The exact monthly payment will depend on the deposit you put down and the length of your term.
Yes – as well as financing options, there are government-backed schemes that can help reduce the cost of solar. The Smart Export Guarantee (SEG) pays you for excess electricity you export back to the grid. Some households may also be eligible for grants through the ECO4 scheme or the Great British Insulation Scheme, depending on their circumstances. Our team can help you understand what you might qualify for.
Once your install is booked, our expert team install most solar-only systems in just one day, fully integrating it with any existing smart energy products, such as EV chargers. The only time we will need access to the inside of your home is for the electrics. Your scaffolding would be up for one to two weeks. Timings may vary depending on your home and system design.
* A 25% deposit is required before installation. Deposits are capped at £5,000, regardless of system value.
** Total annual bill savings are based on average generation data from 150 Good Energy solar installations completed between 2018 and 2025, with an average size of 4.75kWp (10 panels). System estimated to generate 5,035kWh per year, of which 1762.25kWh is used at home, reducing electricity bought from the grid, and 3,272kWh exported at 12p/kWh through Good Energy’s Solar Savings tariff. Actual savings may vary depending on system size, tariff rates and household electricity use. Solar packages start from £6,380, including installation (May 2026). Price varies by property and system specification. For full calculations, visit http://www.goodenergy.co.uk/solar-earnings.
Good Energy is a trading name of Good Energy Services Limited registered in England & Wales Company Number 14502884. Registered office: Monkton Park Offices, Monkton Park, Chippenham, Wiltshire, United Kingdom, SN15 1GH. Good Energy Services Limited is an Appointed Representative of Shermin Finance Limited, who are authorised and regulated by the Financial Conduct Authority FRN 727594. Registered in England & Wales company number 1276121. Registered Office: HomeServe, Cable Drive, Walsall, WS2 7BN. Shermin Finance Limited act as a credit broker and not a lender, introducing from a panel of lenders. The permissions of Shermin Finance Ltd as a principal firm allows Good Energy Services Limited to undertake credit broking. Credit is subject to status and affordability.
