Easy Solar Loans For All

A solar loan is an excellent option for homeowners who require the home equity value and tax incentives that develop from owning solar panels, without a significant upfront expense. And of course, a solar loan permits you to experience the other clean energy and financial benefits of getting your very own solar panel system.

There are a few routes consumers can take for obtaining a solar loan. Many solar businesses work with third parties who produce solar panel financing. For instance, we work with great and verified third-party lenders, that provides loans that consumers can use to buy solar panels and other accessories from us. Using valued third-party companies is excellent because they don't demand a down payment, merely a monthly fee. Also, you can pay off your loan whenever you need (with no penalty). Just keep in mind that your credit score may influence whether you will be qualified to obtain a loan for solar panels.

If you have a not-so-perfect credit score, you might examine unique programs such as PACE (Property Assessed Clean Energy). PACE is a government program that finances projects that enhance energy efficiency. The program alters by location, but in several places, homeowners can pay for their solar panels by a property tax assessment (so your credit score isn't a determinant). You also possess the opportunity to finance your solar panels by applying for an individual loan through your bank or credit union.

No Money Down Options

If you don't require to buy your panels outright or prefer a solar loan, there are other solar financing opportunities you can consider. These cover a PPA (Power Purchase Agreement) and lease. Both are excellent options that can help you save money on energy annually, but the availability changes by state and city.

Solar Panel PPA

The PPA is one of the most attractive solar financing choices. Not only is it affordable, but it makes moving to solar simple. With a PPA, the solar provider typically stays the owner of the solar panel system and maintains all of the equipment, and you have to pay for the energy that the panels generate. Additionally, the rate per kilowatt-hour is often cheaper than the price that a traditional utility company requires. Regrettably, PPAs aren't ready in every state. 

Solar Leases

Comparable to a PPA, you don't pay any upfront expenses for your panels with a lease. The solar provider usually covers the installation, maintenance, and the guarantee. Here's where it gets a bit complex: instead of paying for the power the panels generate, you're actually paying for the equipment. To clarify, you're not purchasing the solar panel system,  you're just paying to utilize the equipment. We'll consider how much power your panels generate over the course of the year, divide that quantity by 12, and then multiply that amount by the kWh rate to ascertain your monthly payment. If the panels don't generate as much energy as expected, we'll pay you the difference to recompense your bill. This method determines that you're guaranteed to never overpay for energy.

As you can tell, solar financing options are abundant. Finding the perfect choice for you will be determined by your financial goals, inclinations, and location. The great news is, we're here to help you steer through these types of projects. Your never alone in the solar game when HahaSmart is on your team. HahaSmart you will have a look at what we can offer you on the cost of solar panels and cost of solar installations. We will strive to find you the best prices available. Follow the solar experts. Try our price checker tool. It tells you how much solar power you need and how much you can save on your energy bills each month.