Good Energy Solar Finance: 25% Deposit, 9.9% APR Explained

Good Energy launched a new solar finance scheme on 25 August 2026, in partnership with Zopa Bank, aimed at UK homeowners who are put off solar by the size of the upfront bill. Instead of paying the full cost on installation day, customers pay a 25% deposit and spread the remainder over a five, seven, eight or ten-year term at 9.9% APR representative. It's the latest sign that solar panel finance UK-wide is shifting from one-off cash purchase toward spread-cost products, following similar tie-ups between Octopus Energy and Zopa, and between Zopa and Hive on heat pump finance.

How the Good Energy solar finance scheme works

The mechanics are straightforward. Good Energy connects customers to funding through Zopa Bank, operating via the FCA-authorised principal Shermin Finance. You put down a 25% deposit on the total installation cost, then repay the remaining 75% in equal monthly instalments over a term of your choosing: five, seven, eight or ten years. The advertised rate is 9.9% APR representative, meaning at least 51% of successful applicants should get that rate or better — others may be offered a higher personal rate depending on credit profile, which is standard for representative APR finance and worth checking before you sign.

Because the lending is arranged through an FCA-authorised principal, the agreement is regulated consumer credit, which brings statutory protections — including a 14-day cooling-off period and the right to settle early. Always confirm the specific lender's FCA status on the FCA register before signing anything.

Worked example: what it actually costs

Good Energy's own example uses a 10-panel solar array costing £6,380. A 25% deposit works out at £1,595, leaving £4,785 to finance. Spread over the maximum 10-year term, that comes to roughly £62 a month.

Add it up and the total repaid over 10 years is deposit (£1,595) plus 120 monthly payments of £62 (£7,440) — around £9,035 in total, against a £6,380 cash price. That's roughly £2,655 more than paying outright, which is the real cost of spreading the payments over a decade at 9.9% APR. Shorter terms cost less in total interest but mean higher monthly payments, so the five-year option will sit much closer to the cash price than the ten-year one. Before comparing finance products, it's worth knowing what a realistic cash price looks like for your system size — see our guide to solar panel costs in the UK.

Why this is launching now

Good Energy says cost remains the single biggest barrier to solar adoption. In research accompanying the launch, 26% of UK adults said lower upfront costs or the ability to spread payments would encourage them to install solar, while 46% cited long-term bill savings and around a third pointed to energy independence as motivating factors. Good Energy has also described 2026 as its strongest year yet for solar sales, with rising interest linked to energy price volatility.

The launch follows a broader pattern of energy suppliers partnering with Zopa on green home finance: Octopus Energy has offered Zopa-backed instalment plans of 24 to 84 months for solar and EV chargers since 2024, and Zopa separately partnered with Hive in August 2026 to finance heat pump installations. Spread-cost finance is quickly becoming a standard checkout option alongside cash and installer credit.

How it compares to other solar finance options

0% installer finance. Many installers still offer promotional 0% finance over 12 to 36 months through third-party lenders. If you can clear the balance inside that window, it's cheaper than the Good Energy/Zopa product — there's no interest at all. The trade-off is a shorter repayment period and higher monthly cost, plus the risk that the rate reverts to a much higher standard APR if you miss the 0% deadline. Our interest-free solar panels guide covers the full range of 0% routes, including Nationwide's Green Additional Borrowing for existing mortgage customers.

0% VAT relief. Separately from any finance product, solar panels and battery storage installed at domestic properties in Great Britain remain zero-rated for VAT until 31 March 2027, after which the rate reverts to 5%. This applies whether you pay cash, use 0% installer finance, or use a paid-interest product like Good Energy's — it reduces the underlying installed cost before any finance is calculated, so it's worth locking in an installation date well ahead of the deadline. See our guide to UK solar grants and VAT relief for the full detail.

Cash purchase. Paying outright is still the cheapest route in pure cost terms, since there's no interest to pay. The trade-off is tying up £6,000–£10,000+ of savings at once. If you have the cash and no better use for it, buying outright wins on cost; if the alternative is not installing solar at all, or draining an emergency fund, a modest-APR finance product like this one can make sense.

Who this suits

Spreading the cost over five to ten years at 9.9% APR suits homeowners who want solar now but don't want to deplete savings, and who are confident they can maintain the monthly payment for the full term — missing payments on regulated credit affects your credit file. It's less suited to anyone who could realistically clear a 0% installer plan within its promotional window, since that route is cheaper, or anyone who would qualify for a genuinely 0% secured product like Nationwide's Green Additional Borrowing.

Before signing, check: whether the quoted installation price is the same as the cash price (some finance-linked quotes are inflated to cover arrangement fees), what your personal APR will actually be once a credit check is run (representative APR isn't guaranteed), whether there's an early repayment charge if you want to clear the balance early, and that the lender is confirmed on the FCA register.