Beginner's Guide to Offering Finance on Solar Panel Installations

Who Will Find This Guide Helpful?

Whether you're a solar panel installer, a home improvement specialist branching out, or a business owner curious about boosting sales, this guide is made for you. If you’ve been wondering how to offer finance on solar panel installations for UK customers but feel stuck in the details, welcome! Let’s take it step by step.

What Does 'Offering Finance on Solar Panels' Actually Mean?

Simply put, you can allow your customers to pay for their shiny new solar panel system in smaller, manageable chunks, instead of one lump sum. You partner with a retail finance provider—like Kandoo—so your clients don’t have to wait years to save up or miss out due to budget constraints.

Why Should This Be On Your Radar?

Offering finance isn’t just about making sales easier; it’s about opening doors. Here’s why it matters:

• Wider access: More people can go green without delay.
• Business growth: Finance options can boost conversion rates and average order values.
• Customer satisfaction: People love flexibility and choice.
• Competitive edge: Standing out from businesses who only take upfront payments.

How Does Solar Panel Finance Work? (No Jargon, Promise!)

Let’s walk through it:

1. Partner up: You connect with a finance broker who sets up the scheme. Kandoo, for example, sorts the paperwork and handles the finance providers.
2. Offer your customers options: When someone chooses a solar installation, you present the payment plan options—monthly payments over a period, with clear interest rates and T&Cs.
3. Customers apply: The customer applies for finance, usually via a simple online form. Approvals are quick—sometimes instant!
4. You get paid in full: The finance partner pays you directly, so your cash flow isn’t affected.
5. Customer repays: Your customer pays the finance provider, not you. Everyone’s happy.

Solar Finance in Action: A Real-World Example

Let’s meet Linda, a homeowner in Leeds. She’s excited about solar panels but worried about the upfront cost. Her installer offers a finance plan: £6,000 for panels and installation, repayable over five years at a fixed rate. Linda completes a quick application, gets approved, and spreads the cost into affordable monthly payments. The installer is paid in full, and Linda’s home is greener and more energy-efficient right away.

Let's Simplify the Lingo

TermSimple ExplanationRetail financeA way for customers to split payments over timeFinance brokerThe middle-person connecting installers & lendersAPRAnnual Percentage Rate—the total interest chargedPoint-of-saleWhere payment or finance is arranged (in store/online)ApprovalWhen the lender agrees the customer can borrow

Quick Questions, Straightforward Answers

Is offering finance complicated?
Not at all, especially when you use a broker who handles the details.

Does my business need special permissions?
You may need to be authorised or an appointed representative for regulated finance. Brokers like Kandoo can walk you through this.

Can any customer apply?
Most UK residents aged 18+ with a good credit history can apply, but eligibility checks apply.

Are there risks to my business?
Minimal. You’re paid upfront, and the finance provider manages repayments.

Is solar panel finance popular?
Yes! More UK consumers expect flexible payment options every year.

Ready to Make Solar Simple?

If you’re ready to empower customers and grow your business with payment flexibility, why not explore offering finance today? To learn more or get started, reach out to Kandoo and make solar solutions accessible to more UK homes—without the upfront hassle!