Does Financing Solar Panels Pay Off?

solar panel financing

Investing in solar panels is a big decision. If you’re researching doing this for your home, you are definitely asking yourself lots of questions. Here’s an important question to answer: does financing solar panels pay off? Converting your home’s energy source to solar panels is definitely an improvement that pays off in many ways. HFS Financial has nearly six decades of experience in home improvement financing. Virtually all kinds of remodeling loans, from a pool loan to a solar panel loan, are made possible with our help. Let’s talk about some of the ways that solar panels make their value apparent.

Looking at Long-Term Savings

Some of the savings you make with solar panels don’t happen instantly. You still have to consider the initial costs you will incur when you make the upgrade. When you get ready to go for it, you can discuss the estimated amount you will need to finance with your contractor. 

Every solar system is a little different. The amount of energy you regularly use is one of the biggest factors that affects the cost of your system because it determines the number of solar panels you will need. You will also need to consider installation costs and energy costs as you work to nail down your budget before applying for financing.

As you make the monthly payments for the predetermined length of time that your loan allows, you might be tightening your spending. However, long-term savings are very important to remember. When you finish paying off the panels, you will own something that is very valuable and will have the monthly amount to invest in something new.

Utilizing Up-Front Savings

There are also savings you will see that start once panel installation is complete. First, your monthly electric statements will change. A solar system can often produce an excess of energy within a month’s time. This excess shows as credit to your account. The energy goes to your utility company for other people and businesses around you. 

Second, there are also monetary incentives offered from state and local governments to look into. You can often get a percentage back on the initial amount you finance in way of a tax credit. 

Some electric companies even offer a promotion for homeowners seeking to convert their power to solar energy. These promotions change often, so be sure to look into this as you get ready to hire a contractor. 

Relying on Direct-to-Consumer Funding

Does financing solar panels pay off? Yes! And relying on HFS Financial to locate an affordable loan is the easiest way to make it happen. There is no need to lease something as important as solar panels. You would still have monthly payments and nothing to show for it when the lease is finished. 

At HFS Financial, we use a no stage funding model that is highly sought after. Homeowners receive the full amount of their loan from the get-go. There is no delay in seeing your home improvement dream come alive. All it takes is 60 seconds to apply for a solar panel installation loan. Or, call us at 1-800-254-9560 with any questions. We want to help you start to enjoy the rewards of owning your very own solar power system. “You Dream It, We Finance It!”

Does Financing Solar Panels Pay Off?

HFS Financial solely operates in the home improvement lending space which means we can confidently say that we are THE HOME IMPROVEMENT LOAN EXPERTS. When you apply at HFS Financial you will get a customized loan experience tailored to ensuring you get the best personal loan to meet your home improvement loan needs.