A solar loan is the primary means used by most people to finance their energy independence. Taking out a loan to pay for your system allows you to leave your savings account alone and instead start putting money in it each month by using all-time low interest rate loans. You also can qualify for the 30% Residential Renewable Energy Tax Credit to immediately reduce your energy costs.
With a solar loan, you can go solar with no money out of pocket and a monthly payment lower than what you are currently paying your utility for the same energy. Or, you can keep supporting your utility and the fossil fuels industry and ever increasing rates. We think the choice is pretty clear.
A credit score of 700 or higher is required to secure a loan, which can run for a term of 12 or 20 years.
- No money out of pocket
- Lower payments than current utility bill
- 30% tax credit
- Own your system