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Through an arrangement with Tandem Bank, a leading UK lender for green home improvements, you may be able to access financing options to help spread the cost of solar panels or a full energy system. While finance is provided independently by Tandem, OVO Solar & Heating offers expert installation and support as a trusted UK provider.
Whether you're ready to install solar panels or still considering finance options, this guide explains the process step by step*.
Interested in a finance quote for solar panels - get a free estimate here.
How solar panel and heat pump finance works
Solar panel finance allows homeowners to spread the cost of solar panel installation and green home upgrades like heat pumps. Rather than paying the full amount upfront, you can finance the project with fixed monthly payments.
Who are Tandem Bank
OVO work with Tandem Bank, a UK lender that specialises in finance for green home improvements. Their experience includes financing solar panels, heat pumps, insulation, and more. They’ve supported over £650 million in sustainable home upgrades across the country.
Flexible loan terms to fit your budget
We know everyone’s situation is different. Current offerings with Tandem bank include:
- 5 year finance offer
- 10 years finance offer
- 20 years finance offer
All plans come with a fixed APR of 9.5% representative, so you know exactly what you’ll pay with no surprises.
Example solar finance costs
Let’s say your solar installation is quoted at £10,000. Here’s an example of what you might pay, based on 3 loan durations available:
Loan duration: 5 years
Upfront deposit: £500
Total amount of credit: £9,500
Representative APR: 9.5%
Rate of interest: 9.1% (fixed)
Total cost of credit: £2,362.56
Total amount payable: £11,862.56
Monthly payment: £197.72
Loan duration: 10 years
Upfront deposit: £500
Total amount of credit: £9,500
Representative APR: 9.5%
Rate of interest: 9.1% (fixed)
Total cost of credit: £5,008.83
Total amount payable: £14,508.83
Monthly payment: £120.91
Loan duration: 20 years
Upfront deposit: £500
Total amount of credit: £9,500
Representative APR: 9.5%
Rate of interest: 9.1% (fixed)
Total cost of credit: £11,174.06
Total amount payable: £20,674.06
Monthly payment: £86.15
The above shows representative examples only: last updated October 2025. Finance is subject to credit checks and eligibility.
Do I need to pay a deposit?
£500 deposit required
To secure your solar panel installation, we require a £500 deposit upfront. If you choose to pay in full, 20% deposit is required.
This deposit helps cover pre-installation costs and confirms your commitment to the project.
Can I pay in full instead of financing?
You always have the option to pay in full for your solar panel installation. If you prefer to avoid financing, we make it simple to complete your purchase with a single payment. However, if you’ve already drawn down your loan, paying upfront afterward may not be possible or could incur additional costs, so please check your loan terms carefully before proceeding
Choosing to pay upfront means you'll pay less overall, as there’s no added interest from a loan.
Can I repay the solar panel loan early?
If you choose to finance your solar panel installation through a loan provided independently by Tandem Bank, please note that OVO Solar & Heating is not the lender and does not control loan terms. Repayment options, including early repayment policies, are set by the lender and may change over time. We recommend reviewing the lender’s terms carefully before proceeding.
Manage your loan through Tandem’s online portal
Once your loan is active, you’ll be able to view your balance and make additional payments on Tandem Bank’s online platform.
How to get solar panels on finance
Step 1: Get a free online solar estimate
Answer a few simple questions about your home to receive a tailored solar panel estimate. You’ll see projected savings, system size, and payment options.
Step 2: Book a home survey
Someone from OVO’s trusted local teams of OVO Solar & Heating experts will visit your home to conduct a full technical survey. This ensures your quote is accurate and that your system design is optimised for efficiency.
Step 3: Choose your payment option
Once your final proposal is ready, you can choose to pay in full or, if eligible, spread the cost using a solar panel loan through Tandem Bank. Loan terms currently include a fixed APR of 9.5% with no hidden charges, but this may vary, is subject to change, and is not available to everyone. Please review the loan details carefully before proceeding.
Step 4: Installation begins
Once your quote and payment plan have been confirmed, your local installation team will take care of fitting your new solar panel system. Most home solar installations are completed within 1 to 2 days, depending on the size and complexity of the system. Timelines may vary, and your installer will confirm all details during the scheduling process.
OVO Solar & Heating offers expert solar panel installation and ongoing support via a trusted network of independent UK providers. While we help connect you with reliable professionals, OVO Solar & Heating is not the installer or supplier of the solar system.
OVO Solar & Heating acts as a credit broker, not a lender. We work with Introducer Appointed Representatives (IARs) to help you explore your solar finance options. The financing itself is arranged through Tandem Bank, an independent lender.
Please note:
- OVO Solar & Heating and Tandem Bank are separate entities.
- OVO does not provide credit or commit the credit of the lender in any way.
- All lending decisions are made solely by the finance provider