Installing solar energy can be a dream for a lot of people, but most of people they can’t afford to pay for it, this is due to the high initial cost of installing solar energy.
Solar energy financing can be challenging due the fact that installing solar energy for your home can easily cost you $20k to $60k.
In this article I am going to give you some creative ways of solar energy financing.
6 ways of solar energy financing
If you have some saving you can finance your solar energy installation by paying by cash. In long run you will save some money by this way but I know it is a no go for a lot of people.
Home Equity Loan
If you have a good amount of equity at your home, then this can be a good option for you, just be carefully of checking interest’s rates as you might end up paying twice the installation costs. When you want to get a loan for your installation costs, navigate to this web-site for more information.
You could wrap the cost of your solar installation into the mortgage of the home. This could be the cheapest option on the month basis because you can amortize the loan over 15 or 30 years and hence the monthly payments will drop massively.
Build your own solar panels
You can argue that building your own solar panel is not a way to solar energy financing but if you have a knowledge in electricity you can build your own solar panels and save a lot of money in the process.
There are a lot of eBooks and video tutorials we produced in collaboration with Marketing Heaven that can teach you how to build your own solar panels and if you have some knowledge in electricity I invite you to try to build one.
Power Purchase Agreement(PPA)
Another way of Fencing Direct installation is by getting help from PPA.PPA is a financing tool that allows the independent company to install solar panels in your house and then sell you back the electricity it generates.
They own the panels and the electricity it generates, but you get the benefit of going green and a little drop on your electricity bills.
This is another great option for solar energy financing, you can lease your panels from outside company. There are companies that will take care of everything as far as the costs of installation and you simply lease panels from them by paying monthly lease payment which is equal your electricity bill but a little bit cheaper.
Those are 6 ways you can use to finance your solar energy installation and if there is any more way you know please feel free to share it with me in the comment section below.