Sunnova announced the beginning of the EZ Own programme, which they claim will allow homeowners to have a solar power system with no upfront or maintenance costs.
Jordan Frugé, chief marketing officer of Sunnova, stated: “Our new EZ Own programme is a way to make solar power more accessible to homeowners who may not have previously considered the benefits of residential solar. EZ Own is a new type of solar-as-a-service agreement, which offers a no-money-down purchase of the system components combined with a comprehensive service and warranty package.”
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The programme will allow customers to purchase a solar system with zero money down, and over a 25-year period they will pay a fixed amount each month, at a price that the company claims is less than they would currently be paying for power.
The customers will own the solar system, and it can be transferred if the home is sold. The customer may be eligible for the federal Investment Tax Credits (ITC) as well, due to them owning the system, rather than leasing it from the installer.
According to chief executive officer, William J. Berger: “Consumers have a strong desire to take advantage of the federal Investment Tax Credit before its looming expiration.”
Sunnova plans to launch EZ Own in California in the first quarter of 2015, and hopes to expand into other areas.
