One of the best parts about solar is the financing and the fact that you aren’t spending any more money when you buy solar. You are reallocating the electric bill money to pay off your solar investment. You can pay off your solar and add value to your home but you can’t pay off the electric company.
Solar finance companies have made going solar an easy and smooth process. They offer incredible rates and unsecured lending.
So solar financing is 0$ down, no money out of pocket until the system is on and operating. This will make sure that you see the savings in your electric bill then have the ability to simply reallocate the money saved to pay your solar off. Expect to see unsecured rates from 3.99%-5.99%, you will always have the option to pay it off or transfer if that is an option you are thinking about doing.
The other benefit of working with the solar lending companies is they understand the tax credit. So they give you an 18 month window to receive your tax credit and then apply it to your solar loan. They allow you to start off with low monthly payments assuming you will apply your tax credit. If you don’t, no big deal. The payment will restructure to make up for the 26% tax credit that was not applied. The whole point of solar lending is to make the process and easy and smooth for everyone.