Sunlight financial has just announced a massive annual guarantee for solar panel financing. Find out what this means and how you can benefit.
Looking for the scoop on this year’s solar panel financing options?
Solar energy really is paving the way for alternative energy sources of the future.
Businesses and homeowners alike are searching for ways to harness solar power easily–and in a financially comfortable way.
It is possible to finance solar panels in a way that works for you.
Read on to learn more about your financing options in the U.S. for solar panels.
1. Sunlight Financial’s Loan Fund
Sunlight Financial is the fastest-growing leader in the residential solar loan industry. If you’re seeking a lender that’s truly invested in the market, look no further than SF.
Sunlight Financial is a credit union that’s already promised $500 million in order to help finance thousands of solar panel installations across the U.S.
In January 2018, it stated that it would push forward $400 million annually in order to make loans more accessible for people wanting solar installations.
SF also gives out loans to some of the best installers in the nation. It is also taking part in the 2018 Solar Summit.
This shows a true commitment to the rise of solar energy in the U.S. and a genuine investment in proper installation.
You can secure loans with term lengths as short as five years and as long as 25 years. The application process is simple and interest rates tend to be competitive.
Homeowners can also take advantage of solar panel financing through SF by adding home value to their properties and enjoying long term financial savings. What’s more, because SF offers secured loans, interest paid is tax deductible.
Most individuals won’t even have to have a down payment on an SF loan.
When it comes to solar panel financing, Sunlight Financial offers you integrity and reliability that you simply can’t beat. Act fast though to take advantage of this new venture.
2. Solar Loans and Your Home
When it comes to solar panel financing, you also have the option of securing a loan against your home.
This is ideal for homeowners who are comfortable using their property as collateral in taking out a solar panel loan.
The process is simple. Homeowners can opt to refinance an existing home loan, simply adding the cost of the panels to the overall amount.
Or they establish what’s called a home equity line of credit. This line of credit would be established for the cost of the solar panels and their installation.
These tend to take longer to close, but they are ideal if you really want to make the most of your solar panel system.
Secured home equity loans can mean better tax deductions on interest and higher value overall.
3. Unsecured Solar Loans
You can also secure solar panel loans through a variety of other independent providers.
This is an option for homeowners who don’t feel comfortable using their home as collateral. It also is ideal for people looking for a fast application process that approves people with lower credit.
However, unsecured solar loans don’t enable you to deduct interest from your taxes. They also may have higher interest rates.
Solar Panel Financing Options
As a homeowner, you do have options when it comes to financing that solar panel system you’re craving.
These include unsecured and secured loans. Of the options available, we recommend pursuing Sunlight Financial’s initiative. Sunlight Financial’s loan fund is hefty and a secure way to get the financing you need.
At SunLynk, we’re all about connecting homeowners to solar power professionals and installers. Get your free installation estimate today!