Solar finance company

How does solar financing work?

That’s where solar financing comes in. Financing options like solar loans let you gradually pay off your system in monthly payments. According to the U.S. Department of Energy, about 85% of residential solar systems in the U.S. are financed. Many times, homeowners find financing through companies that specialize in solar loans.

What is the best type of solar panel financing?

For many people, the best type of solar panel financing is probably a personal loan for solar. A personal solar panel loan will come with fixed interest rates and fixed monthly payments that never change during the life of the loan. Some home improvement loans have higher limits or longer terms to make it easier to pay for more expensive options.

Where can I get a solar loan?

Many different institutions offer solar loans, including local and national banks, specialty financing companies, manufacturers, and credit unions. To choose the best solar loan for you, compare options from a few different financing providers. Use the EnergySage Solar Marketplace to review multiple equipment, installer, and financing options.

What is a solar loan?

Solar loans are typically unsecured personal loans used to finance the purchase and installation of solar panels. These loans can have amounts from $1,000 to $100,000. Personal solar loans are one way to fund solar panels; other options include home equity, federal incentives or leasing if you aren't ready to buy.

Should you finance with a solar loan?

While going solar carries the reputation of having a high upfront cost, more than half of solar owners choose to finance with solar loans. And many of those solar loans come with zero down payment. In fact, some homeowners with the means to pay cash choose to finance with a solar loan instead.

How do I get solar financing?

The easiest and most cost-effective way to get solar is to pay off your entire solar panel system in cash. However, this isn’t possible for many homeowners since solar systems can cost tens of thousands of dollars. That’s where solar financing comes in. Financing options like solar loans let you gradually pay off your system in monthly payments.