No matter which way you cut it, solar will save you a bunch of money over the warrantied life of your system. Take a look below to learn about all of the different ways you can go solar.
Purchase Solar At A Discount Using Cash On Hand
If you have the ability to, one of the best ways to buy a solar system is using cash on hand. One reason is because the return on investment for a solar system over the long term is substantially higher than the minuscule interest rates you are earning on your savings. Additionally, solar systems purchased with cash are much easier to process. As such, by purchasing a solar system with cash instead of financing, you can get a better deal on pricing and you'll save a ton of money on interest.
Refinance Your Home At Historically Low Rates
Another way of taking advantage of the cash-pricing discount is by refinancing your home. This is one of our favorite methods, especially if you haven’t refinanced your home recently. With mortgage rates near historic lows, if you haven’t refinanced in a while, not only can you save a considerable amount of money on your mortgage by lowering your interest rate, but you’ll also get to take advantage of the cash-pricing discount on your solar system. Talk about a win-win scenario!
Take Out A HELOC (Home Equity Line Of Credit)
You can still take advantage of the cash-pricing discount when purchasing a solar system even if you don’t have the cash on hand. One way to do this is by taking out a low interest rate home equity line of credit. Simply go to your bank to apply and once you are approved, you can draw on your HELOC in order to pay for your solar system. By doing so, you’ll still be able to lock in a discount since technically you are still paying with cash.
Finance Solar With Traditional Solar Loans
We have a lot of amazing financing options that allow you to purchase your solar system for your home with Zero Down and No Money Out Of Pocket. The loan process is simple and straightforward and can help you make the switch to solar quickly and without breaking the bank! These financing options are not based on equity, so it's okay if you just bought your home or don't have any equity. Traditional solar loans are based on credit and income.
Finance Using PACE (Property Assessed Clean Energy)
Even if you don’t have the ability to purchase a solar system with cash, you can still reap the rewards and save huge by going solar. There are many amazing financing programs available that help you purchase a solar system for Zero Down and No Money Out Of Pocket, including the PACE program. Financing is a simple and straightforward process that can help you make the switch to solar today even if you have bad credit. PACE is not credit based - approvals are mostly based on equity. With PACE, your loan is simply rolled into your property taxes.