Financing a Solar System and its Interest Rate.

Financing has allowed us to further excel the progress of innovation or simply getting the things we want but can't right away afford in cash. Some of us may agree if you can't afford it, then you shouldn't get it. Well that holds true in somethings, it doesn't in others. We all love our cars yet all we really use them for is to get from point A to point B. Do you really need to finance a expensive car to address that problem? Probably not, but when it comes to our electric bills. Financing a solar system can largely benefit you.

Interest rate for Solar

There are three main things to consider when it comes to the monthly payment of your loan: interest rate, principle and interest per payment. Our solar clients typically benefit from an interest rate of 5.99%; however, with excellent conditions that could  go down to as little as 2.99% according to the National Renewable Energy Laboratory. Even on the high end of the interest rate spectrum which could be up to 8% is it still worth it? The answer is yes, why is that? Well compare that to the current interest rate that you are currently paying for your electric bill. That's 100% interest, no principle, no ownership what so ever. Not only would you benefit from being able to produce your own energy, you get to own that system and that is largely a great return on investment. Our tailored solar systems are priced lower than your per month electric bill. How soon do you start saving? As soon as you say yes to solar. Request a free quote to see your custom solar system with all the information needed to make a calculated decision.  

Article by: Juan Carmona