What Are The Best Solar Financing Options For Orlando Homeowners?
If you’re an Orlando homeowner and are considering making the switch to solar power, you’re in the right place! We are excited to help you choose the right system for your home, and if you need financing, we can help you with that too!
Follow along as our team at Solar Bear Orlando shares some of the best financing options for your system.
Understanding Solar Financing
Whether you want to pay for your system upfront, look into loans, or consider leasing options, there are several ways to finance your solar system in Orlando.
#1. Cash Purchase
If you have the funds available, buying your solar system outright is one of the best ways to finance it as it saves you from accruing interest, and you won’t have to pay monthly payments.
#2. Solar Loans
If you aren’t ready to pay upfront, solar loans can be a great option. Signing up for a solar loan allows you to pay for the cost of your system over several years.
Some of the loans available include:
- Home Equity Loans: These allow you to borrow against the equity that you’ve built in your home and often have lower interest rates.
- Personal Loans: These kinds of loans can be unsecured or secured and typically have fixed interest rates.
- Solar-Specific Loans: Many lenders offer loans specifically for solar installations. We work with EnerBank ™ and Sunlight Financial ™.
If you are unsure of which option may be best for you, don’t hesitate to reach out to our team for help. We are happy to assist you in getting your system financed!
#3.Leasing Options
Leasing can be another option, which is where you pay a monthly fee to use solar panels while the solar company retains ownership. This also means that you will enjoy lower up-front costs and maintenance. However, one thing to keep in mind is that you won’t be able to take advantage of tax credits since you aren’t purchasing the system yourself.
Tips For Choosing The Right Option
Consider these tips to help you choose the right financing option:
Evaluate Your Finances: Consider your current financial situation and how much you can afford to pay upfront or monthly. This will help you determine which situation is best for you.
Research Incentives: Consider local, state, and federal incentives that can help reduce costs, such as tax credits and rebates. The Federal Solar Tax Credit is an option, as well as state and local tax rebates.
Consult with Experts: Our team at Solar Bear Orlando is here to help! We are always happy to discuss the best financing options available for your unique situation.
Read More: What Are the Best Ways to Invest in Your Home?
Go Solar with Solar Bear Orlando
As you can see, there are plenty of solar financing options available for Orlando homeowners to make the switch to solar energy. Whether you choose to buy, lease, or finance your solar system, choosing to go solar has many benefits!
If you have any questions or want to ask us about our solar financing options, don’t hesitate to reach out to us at (727) 471-7442 today!