Did you know that homes with Solar panels are worth more than 4% more than those without? With financial benefits like that, it’s no wonder so many homes are investing in new panels.

But coming up with the money to get panels installed can be a challenge. Lots of people want panels but aren’t sure about their options.

Looking for some helpful Solar Financing ideas? Read on and get some simple but effective tips on finding great solar financing options.

1. Bank Loan

Bank loans are seen as a little old-fashioned by some, but they’re a solid way of financing home improvements. They’re a great way of getting capital together quickly for residential solar financing and they are one of the best ways to cover the entire cost of the panels. 

Even if you’ve been rejected for other kinds of loans in the past, it’s worth exploring your options in regard to solar panel loans. Since this is an investment that will save you money in the long run, a bank that rejected you in the past may be more willing to give you a chance in this case.

2. Check Out Government Solar Financing Grants

All over the world, governments are trying to encourage their citizens to go green. That’s why lots of state governments, town governments, and other local authorities offer grants to help locals install solar panels on their properties.

Depending on where you live and your individual circumstances, different grants might be available for solar panel financing. It’s definitely worth exploring the opportunity. Check your local government website for details, or ask your chosen provider for help.

3. Payment Plans

Paying a big chunk up front for solar panels can be difficult. But spreading the cost over a payment plan is another great way to fund the cost.

Sometimes, panels can even pay for themselves. You can use the savings you make on your energy bills towards the cost of the panels. It’s a win-win situation!

Ask the sales department at your chosen provider for payment plan options. Whether plans or available or not will vary from company to company. There are also dedicated solar financing companies that can help you put your payments on a plan.

Refer a Friend

Life’s better when you share it with others. That’s definitely the case when it comes to solar panels since you’ll no doubt want to share the potential savings with your friends and families.

But referring a friend to your solar panel provider can come with benefits for you too. Sometimes, you can receive a bonus for recommending a friend and you can use that money to partially fund your own panels.

Some companies like Blue Raven installers offer generous bonuses of up to $1,000 for referring a friend!

May the Sun Always Shine on You!

We hope you enjoyed our article on solar financing. Remember, once you’ve figured out the financing, you’ll save plenty of money on your energy bills. It’s well worth it in the long run!

Looking for more informative articles on home care and a wide variety of other topics? Check out our blog for more great content!