Sunnova, a nationwide solar energy company, has just unveiled a new “EZ Own” program for residential customers, according to PR Newswire. “Our new EZ Own program is a way to make solar power more accessible to homeowners who may not have previously considered the benefits of residential solar,” said Jordan Frugé, chief marketing officer at Sunnova. “EZ Own is a new type of solar-as-a-service agreement which offers a no-money-down purchase of the system combined with a comprehensive service and warranty package.”
Ownership has several advantages over leasing. The most important advantage is it makes the installation eligible for a 30% federal tax credit and may qualify for various state and local credits as well. It also means the system goes with the property if the house is sold. With a leased system, the leasing company may actually have to remove the system if a new owner does not wish to continue the lease agreement, while homes with solar panels as part of the package typically see an increase in value greater than even the value of the solar system.
The EZ Own program comes with the industry’s most comprehensive warranty package and includes system maintenance, repairs, and 24/7 monitoring during the 25-year term of the purchase agreement. “EZ Own is putting ownership within reach for more homeowners, removing the responsibility of maintenance, monitoring and repairs over time,” said William J. (John) Berger, Chief Executive Officer at Sunnova. “Sunnova’s goal is to find a solar solution for everyone.”
The EZ Own program makes it possible for homeowners to obtain a solar panel system with zero money down and pay a fixed amount each month over the 25-year term at a kilowatt-hour (kWh) price, substantially less than what they currently pay for power. That gives them control over electric costs over the long term. The loan can be pre-paid at any time without penalties or fees.
The EZ Own program will be offered exclusively through Sunnova’s network of local contractor partners. Sunnova expects to launch EZ Own in California during the first quarter of 2015 and plans to expand the program to other states in the Sunnova network as soon as possible. Contact Sunnova directly for more information about when EZ Own will be available in your state.