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Best way to finance solar panel installation?

asked 2014-12-16 11:19:41 -0500

Jess gravatar image

updated 2014-12-16 12:31:19 -0500

james gravatar image

Does it make more sense to get a lease or look into solar loans? Are there other options?

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answered 2014-12-16 12:20:47 -0500

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updated 2014-12-16 12:22:10 -0500

james gravatar image

EnergySage has written a lot on this topic because it's one that comes up quite frequently among our customers. We've dedicated an entire section of or information library to financing. You can check it out here:

https://www.energysage.com/solar/financing

To give you a quick rundown: If you're thinking about going solar, you can either purchase the system up-front, purchase it with a loan, or have it installed on your roof under a solar lease arrangement / power purchasing agreement (PPA).

Purchasing a solar system requires the greatest amount of capital up-front, but will also promise the most savings in the long-run. We recognize, however, that this may not be an option for everyone.

That's why financing options exist. You can usually have a system installed for zero money down with both a solar lease/PPA or a solar loan.

Under a solar lease/PPA, you will not own the system, but you will also not be liable for any maintenance or problems that may arise.

You can read more about solar leases & PPAs at the below URL:

https://www.energysage.com/solar/financing/solar-leases-and-solar-ppas

With a solar loan, you will usually start saving money from day one, and will eventually save more money than with a PPA/solar lease because once the loan 'pays itself off', your solar electricity will be free.

You can read more about solar loans at the below URL:

https://www.energysage.com/solar/financing/solar-loans

Hope this helps!

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Asked: 2014-12-16 11:19:41 -0500

Seen: 609 times

Last updated: Dec 16 '14