Can you believe that solar panel installation has increased by almost 45% since 2020?
With all the benefits of switching to clean energy, there’s no sign of this trend slowing down anytime soon. Solar panels can also boost the overall worth of your home. Simply put, they pay for themselves in more ways than one.
Despite the many benefits, there’s still the initial cost that homeowners have to hurdle. Are you wondering what your options are? Keep reading to learn all about financing solar panels with this ultimate guide.
A Solar Loan Provider
You’ll be glad to know that there are loan providers that specialize in solar panel projects. This is often one of your best options when trying to cover the cost of installation and the panels themselves.
Since solar loans are often unsecured, you won’t have to put your home up as collateral. This can make getting the loan and paying it off much less stressful. Still, it’s crucial to compare rates and fees from several different providers before you make a final decision.
A Traditional Loan Provider
If you’re not happy with the rates of solar loan providers in your area, then you could always opt for a traditional loan provider. You may qualify for what’s known as a home equity loan or a home equity line of credit.
You can expect a potential loan provider to ask for the usual documents and information, such as your credit score, proof of income, and much more. If everything checks out, you could get offered some great rates and start installing solar panels in no time.
Leasing Agreements
Do you want even more financing options? There’s the possibility of leasing a solar panel system instead of owning it. Some lease agreements can give you the option of buying solar panels at a reduced price in the future.
This is a great option for people who are not adamant about owning their solar panels. While owning them can be great, you could still take advantage of the other benefits that come from solar, such as energy independence, a lower utility bill each month, and a reduced carbon footprint.
Are you still unsure what the best course of action is for you? It can be helpful to contact a solar panel provider and hear what they have to say. The most experienced providers know enough to answer all your questions.
Financing Solar Panels Is Easy
Now that you’ve learned all about financing solar panels with this ultimate guide, you can feel much more confident moving forward. You shouldn’t let the initial cost stop you from joining the solar energy revolution.
When it comes to solar power, we’re proud to service the Missouri and Kansas City areas. Our clients appreciate our attention to detail and our reliable customer service.
If you’re wondering how much the switch will cost you, then feel free to contact us for a free quote. We look forward to talking with you soon.
