Solar Financing Makes Going Solar Affordable

The Benefits of Solar Financing

The goal of putting a home solar energy system on your house is to save you money every month by eliminating your electrical usage charges. Many homeowners don’t have the funds to buy their solar system in one payment. So that’s where solar financing comes in and you can choose the finance options that meet your financial goals.

Scenario 1: Rapid Return on Investment

Many homeowners look at solar as an investment and would like to pay off their solar system in a short amount of time. If you are comfortable with a slightly higher payment, you can reap some very substantial savings when your solar loan is paid off in, say 60 months. Once you own your solar system free and clear, you now have a solar power plant on your roof that produces free, clean energy for the next 25 years.

Solar financing as an investment example:

Your average electric usage charges = $300 a month

Solar panels on your home eliminate the electrical usage. Now you pay $0 a month for electricity from the utility.

Solar finance:

Down payment: $0

Annual percentage rate: 2.99%

Terms: 60 months

30% tax credit: applied to loan after 13 months

New solar payment: $388 a month

Bottom line: After 60 months you no longer have any monthly electrical or solar loan payments and now save $300 a month on average – and more over the years as energy rates increase. You’ve just turned a $0 down, low interest loan into a low-risk investment that essentially pays you huge dividends at the date of maturity for the next 25 years. You can’t beat this rate of return with virtually any other investment vehicle.

Scenario 2: Lower Monthly Energy Payments

Some homeowners just want some relief on their monthly utility costs along with protection from the constantly rising utility rates. If this sounds like you, then you can look into the option of putting $0 down and financing your solar system over a long period of time, up to 20 years. This allows you to go solar right away without shelling out any cash and gives you an ultra-low monthly payment which is going to be much lower than your average energy bill from your utility provider.

Long term solar financing example:

Your average electric usage charges = $300 a month

Solar panels on your home eliminate the electrical usage. Now you pay $0 a month.

Solar finance:

Down payment: $0

Annual percentage rate: 4.99%

Terms: 20 years

New solar payment: $160 a month

Bottom line: You save $140 on average every month without any money out of pocket to get up and running. You also have protection from rising utility rates – imagine how much energy rates will be in the next 10 years?

SolarMax In-House Financing Saves You Even More

SolarMax Technology is the first and only renewable energy company to offer in-house solar financing in Southern California. Other solar companies have to rely solely on 3rd party loan services which can have stricter qualifications, lengthier credit decisions, higher interest rates and financing fees that are often hidden into the overall cost of the system.

Benefits of In-House Solar Financing

By owning our own finance company, SolarMax passes all the savings on to you – which are incredible.

No loan origination or added finance fees!

0% APR available.

$0 down financing available.

Solar financing payment amounts and savings vary based on various factors, including solar equipment type, actual energy usage, actual system production, geography, weather, shade, and actual utility rate structures and rate increases. The interest rates stated are the “annual percentage rate”. Contact SolarMax Technology for a customized estimate.