Category Archives: Solar Financing

Articles about the ways to finance a solar installation.

Hometap Q&A

Q&A with Hometap

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There are a few different ways to pay for solar: you can pay with cash, finance solar, or lease your system. When it comes to financing solar, there are also several options including solar loans, home equity loans, and alternative options like Hometap. We sat down with Hometap to learn more about their home equity investment offering that provides another way to pay for various energy-efficient home improvements, including solar panels, heat pumps, and more.

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solar loan re-amortization

Solar loan re-amortization: an overview

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Solar loans have become a popular way to finance solar panel installations. While there are various loan options to consider, the majority of solar loan products offer fixed interest rates, monthly payments, and terms. If you’re looking for a solar loan option that allows you to adjust your monthly payment down the line, you may want to consider re-amortization options.

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Alternative solar financing

Alternative ways to pay for solar

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Adding solar to your home almost always pays off! However, assuming you purchase your solar system, you’ll have to either provide an upfront cash payment or monthly payments (like if you choose a $0 down loan). While there are several options to finance solar panels for your home, there are a few things you’ll need to be aware of to select the best option for you. In this article, we’ll discuss some alternative solar financing options that you may not know about! 

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solar scams

Solar scams: common scams and how to avoid them

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There are many outstanding solar panel installers (as proven by the excellent reviews you can find here on EnergySage!). However, like all industries, solar has some companies that unfortunately take advantage of consumers looking to save money and help the environment. That’s why it’s essential to approach buying solar just like any other major purchase by researching your options, comparing quotes, and vetting the company you use. So, we’re sharing some common solar scams for you to be aware of and tips for avoiding them. (Pro tip: you can use EnergySage to take advantage of the research we’ve already done for you to know you have a trusted installer on your side!)

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low credit solar

Can you go solar with low credit?

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If your credit score isn’t the highest, it can sometimes feel challenging to get larger purchases covered. Going solar is a big purchase, so many homeowners look to finance their solar system. While your credit score and current debt-to-income ratio (DTI) are usually factors in your approval and interest rate with a lender, there are ways to go solar even without stellar credit. In this article, we’ll share some resources and options for you to consider. 

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Consumer protection

Protecting your solar investment: what to know about consumer protections

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If you’re considering solar panels for your home, there are a few things you’ll need to be aware of to select the best option for you. While installing solar panels can put money back in your pocket in a few different ways (such as reducing or eliminating your electricity bills, providing you with incentives, and getting you credits through net metering), they are no doubt an expensive purchase so you’ll want to make sure you’re confident and feel secure in protecting your investment. Just like many other big ticket items, there are consumer protections you should know about for solar, as well as other ways you can be an informed buyer when choosing your installer, equipment, and financing.

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Solar leases

Solar leasing: what you need to know

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If you’re looking to lower your electricity bill without any upfront costs, there’s a good chance you’re considering a solar lease. Under the right circumstances, solar leases can be an attractive option, offering cheaper electricity with very little hassle on your end. However, there are also instances in which a solar lease could cause trouble down the line, so it’s important to do your research before signing any contract. In this article, we’ll cover the basics about solar leases–from what they are to why you may or may not want to enter one. 

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form 5695 instructions solar tax credit

How do I claim the solar tax credit (ITC)? Form 5695 instructions

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If you’re considering solar, you’ve probably heard about the federal solar tax credit, also known as the federal Investment Tax Credit (ITC). If you have a solar system on your property, you’ve probably heard about the federal solar tax credit, also known as the federal Investment Tax Credit (ITC). The ITC makes solar more affordable for homeowners and businesses by granting a dollar-for-dollar tax deduction equal to 26% of the total cost of a solar energy system. There’s plenty of information out there about the value of the ITC, but figuring out how to actually claim the credit when it comes time to file your taxes is another story. In this article, we’ll walk you through the instructions step by step from figuring out if you’re eligible to completing Form 5695 to adding it to Schedule 3 and Form 1040.

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