Financial Ideas For Buying Solar Panels

Financing is a great tool for people who cannot or do not want to pay the entirety of an upfront-cost for an item.  This method can be a great way to step into the solar panel revolution, you can learn how to get a great price on financing solar panels below.  

Credit Solar Finance

Good credit can offer access.  A higher credit rating will open more financing opportunities, but some banks finance solar systems for the full range of credit evaluations. Five years ago, it was challenging for those without an outstanding credit rating to secure a loan, but new solar loan platforms like Dividend Solar, Mosaic, and Greensky have allowed most local solar installation companies to offer to zero down the investment to their clients. If funding is a challenge, another option to participate in a solar community project where you can be a contributor rather than an owner.

Incentives

The federal solar tax credit is the most advertised but remains many incentives and discounts accessible at your state and local level. Net metering, solar carve-outs, and solar feed-in tariffs might also help bring the price of a solar system down. Your state might additionally offer Solar Renewable Energy Certificate (SREC) that needs power retailers to purchase a certain quantity of energy from renewable sources including domestic solar systems. 

Special Loans For Solar By State

Many states previously offered special loan programs to citizens, and we suspect more to do so shortly. The Florida Public Service Commission (PSC) lately opened the door for zero-down funding in the Sunshine State.

Break Even Point For Solar
 
Most solar consumers pay off the financing for a solar system in 4-10 years. It is contingent on how much you finance, the quantity of energy your system generates, and any incentives or bonuses you apply to the balance. Like any loan, you can always execute extra payments on the principal to it off more quickly.

ROI Solar Finance

The return on investment (ROI) of a solar energy system differs based on the capacity of your solar energy system and the quantity of your pre-solar electric bill. The PV Watts calculator determines your ROI without asking for your contact data or even your name. When you are available for a more exact number, use our HahaSmart pricing tool to find out how suddenly your solar panels will take to break even.

Lastly On Solar Finance

Banks and investment businesses are expanding their investments in residential solar loans. As a customer, you have many opportunities to finance the installation of a residential solar energy system. A mixture of lower prices for solar panels and bountiful incentives make this an excellent time to harness the sun’s energy and lower your utility bill. 

Want to save and be guided by experts who do the research and know the answers? Go to HahaSmart.com and try our price checker tool. How much solar power you need and how much you can save on your energy bills each month.