Zopa, the British digital bank, has partnered with eco-tech company Hive in a move designed to help UK homeowners spread the upfront cost of greener home upgrades.
Customers can now apply for a personal loan from Zopa directly through the Hive website to finance Hive eco-tech such as solar and battery installations.
Zopa will provide the regulated lending product and manage the finance journey, including quote, application, credit assessment, loan disbursal and servicing.
Tim Waterman, Chief Commercial Officer at Zopa Bank, said: “Helping households transition to cleaner, more energy-efficient homes is increasingly important amid volatile energy prices and rising household bills. Yet, for many people, the upfront cost of installing solar panels, battery storage or heat pumps remains the biggest obstacle to making this change and getting the advantage of monthly savings.
“By bringing together Zopa’s best-in-class digital lending experience and customer-centricity with Hive’s expertise in smart home and green energy solutions, we’re removing that barrier. Together, we’re making it easier for millions of homeowners to invest in a greener future through a simple, transparent and fully regulated digital finance journey that helps spread the cost of home upgrades.”
Susan Wells, Director of EV & Solar at Hive, said: “Solar is becoming an increasingly attractive option for homeowners looking to lower their energy bills and take greater control of their energy use. But for many, the upfront cost remains one of the biggest barriers.
Our partnership with Zopa helps remove that hurdle by giving eligible customers the option to spread the cost of a solar installation. It’s another way we’re making greener home technology more accessible, helping more households enjoy the benefits of generating their own energy and taking greater control over how they power their homes.”
Image: Hive
