Tag Archives: solar loans

is solar worth it

Are solar panels worth it?

Reading Time: 9 minutes

Like any major investment, installing a solar energy system is a big decision! But, as the cost of solar continues to decline and new energy bills make purchasing more attractive, this decision to go with solar over other fossil-fuel based  methods of energy production is becoming easier and easier. For most people, going solar now represents a smart long-term investment with substantial savings. However, before installing a solar panel system, you’ll want to make sure that you can take advantage of these benefits by first considering a few major factors. In this article, we’ll help you answer the question: “Should I get solar panels?”

Here are a few factors to consider to know how much money going solar will save you, and when:

  • Do you own your home, or are you renting?
  • Will you sell your property in the next 10 years?
  • Is your roof suitable for solar panels?
  • How much do you spend every month on electricity?
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electricity rates and solar cost trends

Is residential electricity price going up or down?

Reading Time: 8 minutes

If you’re considering whether going solar is a worthwhile financial move for your home, there are essentially two factors that you should look at: 1) the costs associated with solar power, and 2) the rates you pay for electricity from your utility. Going solar makes economic sense when solar electricity costs less than grid electricity.

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home loan investment bank

Home Loan Investment Bank: a full service bank with solar lending options

Reading Time: 4 minutes

Solar loans are the fastest-growing method of financing a solar panel installation for your home or business. Across the country, more than half of all new solar installations are done with either a cash purchase or through a solar loan.

Home Loan Investment Bank, headquartered in Warwick, Rhode Island, is a full-service bank that offers solar loans alongside other financing products. HLIB’s loans are accessible to solar shoppers across the country, and are one of the top 10 financing options available to solar shoppers on the EnergySage Solar Marketplace. If you’re comparing solar quotes from a few different solar installers, you may have encountered a loan option from Home Loan Investment Bank.

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Energy Loan Network review

Energy Loan Network review: everything you need to know

Reading Time: 3 minutes

Solar loans are the fastest-growing method of financing a solar panel installation your home or business. Across the country, more than half of all new solar installations are done with either a cash purchase or through a solar loan.

Based in sunny California, Energy Loan Network (ELN) is a relatively new name in the solar lending industry. If you’re comparing solar quotes from a few different solar installers, you may have seen a loan option from Energy Loan Network.

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dividend solar finance review

Dividend Solar Finance review: loans that make going solar easier

Reading Time: 4 minutes

Solar loans are the fastest-growing method of financing a solar panel installation for your home or business. Across the country, more than half of all new solar installations are done with either a cash purchase or through a solar loan.

Based in sunny San Francisco, Dividend Solar Finance is a big name in the solar lending industry and serves customers in 26 states across the country. If you’re comparing solar quotes from a few different solar installers, there’s a good chance that you have received an offer for an EmpowerLoan™ option from Dividend.

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free solar panels

“Free solar panels”: Are they really free?

Reading Time: 6 minutes

If you’ve been shopping around for a solar panel system, you’ve probably heard at least one company advertise ‘free solar panels’ – that they will install a solar energy system on your roof for free. But, much as with anything, remember that there is no such thing as a free lunch (or a free solar panel).

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solar loans

Solar loans: what you need to know

Reading Time: 4 minutes

Want to finance your solar panel installation? Cash purchases and solar leases (or PPAs) aren’t your only options. If you don’t have–or aren’t willing to spend–the capital for a cash purchase but want to maximize the financial benefits of a solar energy system, the solar loan offers the best of both worlds.

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Solar loans vs. solar leases

Reading Time: 3 minutes

So you know you want to finance your solar panel system, but one big question remains: should you lease your system from a company, or own your system and finance it with a solar loan? The answer here depends on a few factors, including your preferences, needs, and financial goals. 

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Sungage Loan Review

Sungage Financial zero fee loan review

Reading Time: 4 minutes

Solar loans are a very popular way to pay for a new solar or solar plus storage system, since they are a great way to take advantage of the benefits of solar ownership–from tax incentives to increased home value–without requiring you to have the cash on hand to pay for the full system up front. What’s more, many solar-specific loans offer low, fixed interest rates and flexible payment terms, helping you to find the monthly payment that’s right for you. However, a low interest rate (or APR) comes with a caveat: a low APR often means a high cost to borrow money. That cost or fee to borrow money is passed on to your installer, or even built into the overall cost of the project, making a tradeoff between the lowest monthly payment (i.e., low APR) and the lowest project cost (i.e., lowest cost to borrow money). 

Recently, Sungage Financial, one of the most popular solar loan providers on EnergySage, launched a zero fee solar loan to keep your solar project costs as low as possible. Here’s what that means for solar shoppers like you.

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New Homeowners

First-time homebuyer? Why solar should be your next big investment

Reading Time: 7 minutes

If you just purchased your first home, first of all, congratulations! Buying a home is no small feat and immediately planning your home’s upgrades may feel overwhelming–but we’re here to help! When it comes to solar, we think it’s a great upgrade for first-time homebuyers because solar saves you money in the long run and increases your home value. We’ve laid out some key questions to answer when making the decision to go solar as a first-time homebuyer.

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