If outright purchase isn’t something you can do financially that’s understandable, don’t worry! With one of our affordable solar financing options, we’ll help you to go solar. Solar loan financing allows you to avoid high upfront costs while also giving you control and ownership of your solar system.
A solar loan is used towards the purchase of a solar power system for your home. Much like a regular loan, it gets paid off in monthly payments with interest, which oftentimes is less than your current utility situation. However, it puts you in control because you are the system owner and are entitled to benefits, such as tax credits and rebates. For some, just knowing that you’re helping make the planet a little more green is reason enough to go solar.
If you’re considering getting a solar loan for your home, there are several ways to secure one. Many local and national banks and credit unions offer very affordable solar loans. You have options for either a secured or unsecured solar loan. The difference between these two is that secure loans require an asset (typically your home) as collateral for the money borrowed, many are simply credit-based and some are not based on credit at all.