Solar energy is an excellent investment that will pay for itself over time. With a solar system for your home you will and save you tens of thousands of dollars in electric costs. Solar is a home renovation that actually pays for itself even without considering home value. Solar will add value to your home. Now, with residential financing, making your solar purchase is easy, quick, and affordable. Two ways to finance a solar addition are HELOC, or an installment loan. A HELOC (home equity line of credit) is a great way to use the value you have in your home to pay for the solar. An installment loan is a great way to finance solar also.
Why We Offer Financing
Solar Energy Solutions offers financing to help our customers achieve their clean energy independence goals. We are not a financial services company; all costs are passed through as we believe it is our ethical mission to bring you the best and most reasonable solar available, with no strings attached.
Installment Loan Financing
If a home equity loan (discussed below) isn’t right for you, there are other avenues to finance solar. SES has partnered with two financing companies, Sunlight Financial and Medallion Bank so you can decide what works best for you.
We are thrilled to have a new financing partner, Sunlight Financial. Sunlight Financial’s loan products were designed with solar in mind. In particular, they have longer terms to better fit with the lifecycle of the solar panels.
The beauty of the Sunlight loan is that it was designed with the understanding that money from the tax credit isn’t available until up to 17 months after the installation, so they calculate payments assuming you will apply those funds by or on month 17. But, it’s up to you how much you want to apply and payments are adjusted from that point onward in the loan.
HELOC (Home Equity Line of Credit)
A home equity line of credit (HELOC) via your bank or existing financial institution is usually the lowest cost way to finance a solar project. The interest rates are dependent on credit rating and the amount of equity in your home. Some areas have special financing on home improvements, so talk to the solar consultant in your area to find out more.