The trend to solar ownership: Sunnova expands EZ Own Loan

Sunnova residential solar-001As we’ve noted, the trendlines show ownership as the clear path forward for residential solar. Sunnova, a market leader in residential solar services, agrees and has announced the expansion of its EZ Own Loan, which allows homeowners to own their solar power system with no out-of-pocket expenses for down payments or maintenance.

“The EZ Own Loan allows Sunnova to provide more homeowners with the option to choose solar and lower their electricity costs,” said Jordan Fruge, Chief Marketing Officer at Sunnova. “The loan offers customers the combined benefits of ownership and a power purchase agreement, providing the best of both options.”

With the EZ Own Loan, customers can choose solar and start lowering their electricity bills with zero money down and low monthly payments. Consumers retain ownership over their solar system while Sunnova provides a comprehensive warranty package, including system maintenance, repairs and 24/7 monitoring to ensure stable and reliable power production.

RELATED: The trend to ownership: What it means for your solar installation business 

Sunnova offers easy transfer services in the event of a sale of the home, making it a more flexible and convenient option compared to competing products on the market. Additionally, EZ Own customers can prepay balances, in total or partially, at any time without penalty or fees, and may also be eligible for the federal Investment Tax Credit (ITC).

“The solar revolution is here, and we want everyone to have the chance to join in,” said Sunnova’s Chief Executive Officer William J. (John) Berger. “The EZ Own Loan helps make that possible for many homeowners by providing peace of mind and more control over their electricity.”

The EZ Own Loan will be offered through Sunnova’s network of local partners. This program is currently available in Arizona, California, Connecticut, Florida, Hawaii, Massachusetts, Maryland, New Jersey, New Mexico, New York, South Carolina and Texas, with Solar Renewable Energy Certificates (SERCs) offerings in Maryland, New Jersey and Massachusetts.

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