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8th November 2020
How Should I Pay for Solar Panels?
  • BY : Ellen Ra
  • BY : Ellen Ra
  • 8th November 2020

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How Should I Pay for Solar Panels?

Solar panels are paving the way as a clean energy source that helps drastically reduce individual home and business owners’ carbon footprint. The greenhouse gasses emitted from utilizing fossil fuels are directly responsible for the increased carbon dioxide levels in the earth’s atmosphere. These greenhouse gasses raise the temperature of the atmosphere gradually over time which results in global warming. We all know how detrimental global warming is for the environment. Purchasing a smart car and having solar panels installed so that your home can become a solar home are some of the most important steps that you can take towards living a greener lifestyle.

What is the Best Way to Pay for Solar Panels?

Cash is always the best way to pay for solar panels. Government programs can end up costing more and taking longer. If cash is not an option then financing is the second-best route to go for acquiring your solar panels. Knowing the average cost of the panels is closely related to the cost of a roof replacement will help you to plan and save accordingly for your solar panels. If you would rather not wait that long you can apply for financing. Once financing is secured the installation company can begin moving forward with the process.

When it comes to paying for solar panels these are the preferred methods:

  • Cash – Cash is always fast and moves the process along quickly
  • Solar Loans – homeowners that want panels promptly with zero down benefit from this
  • Solar Lease – homeowners rent the units from the installation company

Cash

When you’re wondering “How should I pay for solar panels?” Cash is always going to be the #1 answer. Cash guarantees that you will not be subjected to financing or interest rates. When you factor these in you will end up paying more than the cost of the solar panels if you paid with cash in the first place. If you do not have a large amount of cash on hand you can reach out to solarhomeappointments.com and the representatives will be able to start the process on establishing a quote for you. Knowing the cost will help you save for it so that you can pay for your solar panels upfront.

Solar Loans

Solar Loans are the second most popular way to go about turning your home into a solar home. Solar loans are relatively easy to acquire and the solar system can be bought immediately with little to no upfront costs once the loan is approved. Solar loan providers are striving for a greener environment too and want to make obtaining the panels easy for homeowners. Solar loans often require zero down payment and the solar lenders also feature many ways to pay down the loan without the risk of penalties.

Another added benefit of a solar loan is the fact that the system gets installed immediately. The zero down and flexible payment method makes payments easy. Homeowners see immediate savings when they begin utilizing their solar energy. The savings can be put towards the loan which can then equate to the solar loan being paid down even sooner than anticipated. Solar loans are a subcategory of home improvement loans which is what makes them homeowner friendly.

Solar Lease

Solar leases are generally discouraged because they don’t always equate to savings. The intention of harvesting energy is in the right place but the method of acquiring the panels will end up costing the home or business owners. A lease is essentially renting the equipment. The homeowner does not own the panels and therefore does not qualify for any tax deduction or incentives for clean energy.

Lease terms are also a bit deceiving. You will lease the equipment for 20-30 years and then the equipment is considered outdated. At this point, you can have the panels removed and resign a new lease on new equipment or extend the lease on the existing, yet dated equipment.

Given the three main choices of obtaining solar energy; cash or solar loans are the best way to go for homeowners. If interested in hearing more about solar costs, visit solarhomeappointments.com for more information.

What Is The Cost Of Solar Panels?

The cost of solar panels is easily compared to the cost of a roof replacement. More panels can cost more and fewer panels will cost less. The average cost hovers around the $30,000 price point. The installation technician combined with the customer service representative will be able to provide an accurate quote once the job has been evaluated. The cost may seem a bit high initially but it is important to consider decades without electric or minimal electric bills will serve for much greater savings than the installation cost of the panels.

Once you make the decision to become a solar home act quickly to take advantage of prompt installation. The experts at solarhomeappointments.com will be able to guide you through the entire process so that you can begin a greener lifestyle today.

Thank You so much for your time,

Ellen Ra
Love Solar Energy

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