If you’re considering whether going solar is a worthwhile financial move for your home, there are essentially two factors that you should look at: 1) the costs associated with solar power, and 2) the rates you pay for electricity from your utility. Going solar makes economic sense when solar electricity costs less than grid electricity.
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If you’ve been shopping around for a solar panel system, you’ve probably heard at least one company advertise ‘free solar panels’ – that they will install a solar energy system on your roof for free. But, much as with anything, remember that there is no such thing as a free lunch (or a free solar panel).
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In this article, we’ll help you answer the question: “Is it worth it to buy solar panels?” For most people, solar panels are worth the investment, but they may not be right for you in some rare circumstances. However, even renters may have solar options if their property owners or managers are open to it.
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Solar loans are the fastest-growing method of financing a solar panel installation for your home or business. Across the country, more than half of all new solar installations are done with either a cash purchase or through a solar loan.
Home Loan Investment Bank, headquartered in Warwick, Rhode Island, is a full-service bank that offers solar loans alongside other financing products. HLIB’s loans are accessible to solar shoppers across the country, and are one of the top 10 financing options available to solar shoppers on the EnergySage Solar Marketplace. If you’re comparing solar quotes from a few different solar installers, you may have encountered a loan option from Home Loan Investment Bank.
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Solar loans are the fastest-growing method of financing a solar panel installation your home or business. Across the country, more than half of all new solar installations are done with either a cash purchase or through a solar loan.
Based in sunny California, Energy Loan Network (ELN) is a relatively new name in the solar lending industry. If you’re comparing solar quotes from a few different solar installers, you may have seen a loan option from Energy Loan Network.
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Solar loans are the fastest-growing method of financing a solar panel installation for your home or business. Across the country, more than half of all new solar installations are done with either a cash purchase or through a solar loan.
Based in sunny San Francisco, Dividend Solar Finance is a big name in the solar lending industry and serves customers in 26 states across the country. If you’re comparing solar quotes from a few different solar installers, there’s a good chance that you have received an offer for an EmpowerLoan™ option from Dividend.
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Want to finance your solar panel installation? Cash purchases and solar leases (or PPAs) aren’t your only options. If you don’t have–or aren’t willing to spend–the capital for a cash purchase but want to maximize the financial benefits of a solar energy system, the solar loan offers the best of both worlds.
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So you know you want to finance your solar panel system, but one big question remains: should you lease your system from a company, or own your system and finance it with a solar loan? The answer here depends on a few factors, including your preferences, needs, and financial goals.
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Solar loans are a very popular way to pay for a new solar or solar plus storage system, since they are a great way to take advantage of the benefits of solar ownership–from tax incentives to increased home value–without requiring you to have the cash on hand to pay for the full system up front. What’s more, many solar-specific loans offer low, fixed interest rates and flexible payment terms, helping you to find the monthly payment that’s right for you. However, a low interest rate (or APR) comes with a caveat: a low APR often means a high cost to borrow money. That cost or fee to borrow money is passed on to your installer, or even built into the overall cost of the project, making a tradeoff between the lowest monthly payment (i.e., low APR) and the lowest project cost (i.e., lowest cost to borrow money).
Recently, Sungage Financial, one of the most popular solar loan providers on EnergySage, launched a zero fee solar loan to keep your solar project costs as low as possible. Here’s what that means for solar shoppers like you.
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Tesla’s recently announced solar rental program was met with high hopes, as a program with the potential to make solar more accessible to more homeowners. With a sense of how the program works, the question becomes: how do the savings from renting solar panels form Tesla compare to the savings from owning or leasing solar panels?
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