Solar loans have grown in popularity in the last 5 years and made going solar a very simple process. It is the standard now to go solar with no money out of pocket and secure financing with low fixed monthly payments in the neighborhood of current utility costs. These loans offer a high level of flexibility and most can be paid off at anytime without prepayment penalties.
“These loans are structured understanding the many incentives available to home owners when they convert to solar…”
These loans are structured understanding the many incentives available to home owners when they convert to solar and allow you to simply pay down your balance as you capture these incentives, decreasing your monthly payments.
In many instances these loans are transferable in the event the home is sold or someone else takes over that expense.
Solar loans are available from many lending sources and come in terms anywhere from 5-25 years with low, fixed interest rates ranging from 2.99% to 5.99% making the cost of this money relatively inexpensive when compared to credit cards and many other forms of financing.
“Due to the economics of these loans that have made going solar very simple, people are able to secure the funding necessary to purchase their systems…”
Due to the economics of these loans that have made going solar very simple, people are able to secure the funding necessary to purchase their systems with no money out of pocket and immediately begin to capture the benefits of solar energy.
Although these loans can be secured with no money out of pocket, there is nothing preventing the borrower from putting as much money as they’d like down which of course reduces their monthly payments moving forward.
Solstice Energy works diligently to find and solidify relationships with the best of these funding sources and we have a wonderful group of funding partners to help in nearly all situations.
For a full rundown of your options, please don’t hesitate to speak to one of our Energy Specialists. They will be able to provide you with additional loan details as well as a completed proposal including your payments, interest rate and more.