The Benefits of Solar Loans
Solar PV technology has never been more affordable than it is today. But not everyone has the money to pay for a new system.
Using a loan, however, can help bridge the gap.
It costs $0 upfront to get started. And although you’re technically taking on debt, you’re not paying any money out-of-pocket. That’s because solar loans are carefully structured so that the savings you receive from your PV panels exceeds your monthly loan repayments.
If your solar installation shaves $100 off your utility bill, then your loan obligation will be $99 – or less. Those savings are guaranteed. And there’s little chance of defaulting since your PV panels are warrantied for 25 years when you choose Capital Solar and Roofing.
In other words, using solar loans to finance your system is a risk-free investment that delivers predictable returns and savings. As long as the sun rises every morning, your solar PV system is guaranteed to pay for itself in just a matter of years.
All of this is in sharp contrast to solar leasing – a financing approach that never truly pays for itself. With a solar lease:
- You benefit from cheaper and cleaner electricity. But because you’re renting your PV panels, it’s not possible to break even. Solar leasing is simply an ongoing cost.
- Worse still, leasing doesn’t allow you to claim any incentives – like the Solar Investment Tax Credit or net energy metering. These generous subsidies go to the system lessor instead.