Panasonic and Service Finance Company announced PowerOn, a new home energy storage financing program exclusively for Panasonic EverVolt  Certified Installers that enables them to offer 100% financing to homeowners who buy a complete energy storage system including EverVolt battery storage and Panasonic brand solar modules, or EverVolt battery storage.

The PowerOn program offers affordable payments for homeowners and speedy payment to Installers. Homeowners will be able to use any federal tax credits and local incentives to lower their payments and pay down loans faster through refinancingⁱ. All promotional loans offered through the PowerOn program include competitive finance terms.   

The PowerOn program provides multiple, flexible, no-money-down financing options to enrolled Panasonic EverVolt Certified Installers that they can offer to homeowners, including:

• Transparent pricing - no hidden fees
• No interest/no payment options, up to 18 months
• Short- and long-term, low payment options
• Combination solar/energy storage financing
• Competitive annual percentage rates

"The interest in energy storage systems has never been higher. One of the key missing ingredients has been nationwide energy storage financing that is easy to access and affordable for homeowners. With PowerOn, any Panasonic EverVolt Certified Installer  can increase sales by selling turnkey energy storage systems with a low monthly payment," said Mukesh Sethi, Director, Solar and Energy Storage, Panasonic Life Solutions Company of America. "Instead of paying cash for a $15,000 battery storage system, a homeowner can now purchase it for no money out of pocket and simply make a low monthly payment. Service Finance Company is offering a very accessible financing program which will allow Installers who may have been unable to scale in the energy storage market to start selling multiple EverVolt systems now."

Service Finance Company has an easy to use dealer portal, online application and mobile app, which offers rapid four-click customer approvals and high approval rates. 

"We're extremely excited to be the new endorsed financing provider for the Panasonic Residential Solar Installer network. Our portfolio of financing products as well as in-market support enable home improvement dealers and solar installers to close more sales and help them profitably grow their businesses. We're looking forward to providing our experience and expertise to Panasonic Residential Solar Installers and Dealers, from day one," said Mark Berch, president of Service Finance Co. "Combining our best-in-class financing products and support with Panasonic's advanced product design and functionality will enable installers to provide a truly advanced energy storage solution to their customers as well as an easy and affordable way to pay for the system," Berch concluded.

PowerOn platform training is launching now. Webinars will be conducted to provide more in depth information on both how to access and apply for PowerOn and how installers can use financing to increase their sales of Panasonic brand solar modules and EverVolt energy storage systems.

Panasonic Corporation of North America | www.na.panasonic.com/us

Service Finance Company | https://www.svcfin.com