Solar Financing Options

Introduction

After you have made the decision to go solar, the next step is figuring out how to pay for it. Here at Solar Wave we only offer financing solutions that allow you to own your system outright. In this article, we outline these options to help you choose the best solution for your budget.

Cash purchase

A cash purchase of your solar panel system is the best way to maximize your savings and the return on your investment. Going this route means you won't have to worry about a monthly expense for the electricity your system produces, which makes it a great solution if you're looking to minimize monthly expenses for retirement or want to avoid financing fees and interest. Your return on a cash-purchased system could be greater than investing the same amount in the market. The only drawback is that solar isn't cheap.

Solar loans

The second way to fund your system is with a solar loan. Solar loans are a great option because they let you go solar with no money down, and often you can choose a term with a lower payment than your current utility bill. Solar loans make it so that if you can afford your monthly electricity bill, you can afford to put solar on your roof.

The only drawback is that you'll be paying interest or financing fees on the money you borrow. Even so, solar loans remain a fantastic way to fund a project. Once you discover you can save thousands with your solar investment, you may not mind paying more to finance the system and lock in a low monthly payment. The important thing is knowing exactly what you're paying for — at Solar Wave, your finance fees will never be hidden.

What is right for you?

You may choose a cash purchase if:

• You are looking to maximize your solar savings
• You don't want any monthly payments
• You would like to avoid the fees or interest that come with loans

You may choose a solar loan if:

• You do not want an upfront expense to get your system installed
• You would rather take what you're paying your utility company and put it toward solar instead
• You don't mind paying fees or interest as long as you still receive savings

Compare your options with Solar Wave

Whether you're considering a cash payment or would like to explore solar loans to fund your project, Solar Wave is here to help. If you don't have a proposal from us yet, start one below. If you already have a proposal and would like to discuss your financing options in more detail, schedule a solar discovery call with us.

Steven Weaver

Steven is the founder of Solar Wave and has dedicated the last seven years of his career to the solar industry. After consulting for multiple solar companies across the US he founded Solar Wave in Denver, Colorado. Solar Wave is on a mission to continue the rapid deployment of residential and commercial solar in Colorado by offering the best solar equipment and installation services at the lowest prices possible.