No money down solar power

How do I go solar without upfront costs?

There are three main ways to go solar without any upfront costs – solar loans, and solar leases or power purchase agreements, also known as PPAs. Solar energy systems are an expensive investment, which is why about 85% of all solar system installations are financed. The zero-down option with the most financial upside is a solar loan.

Do solar loans come with a zero-down option?

Most solar loans come with a zero-down option. The amount you pay monthly depends on how much your system costs to install, your interest rate, your loan term, and the type of loan you choose, but your monthly loan payments will still cost less than your previous electricity bill, providing you with immediate savings.

Should you buy a solar system with no down payment?

Although the idea of having no down payment is appealing – especially for big-ticket purchases like cars or solar panels – it’s important to understand the overall financial commitment you’re making before spending tens of thousands of dollars on a solar system that you’ll rely on for more than two decades.

What is zero down solar?

Zero down solar is simply financing your solar installation so that you (the homeowner) can avoid paying any cash upfront. With an average-sized 5kW solar installation costing around $15k, avoiding that huge payment seems like a great idea, right? But how exactly do you go solar with no upfront payments, and how does it work?

Who offers zero down solar?

Who offers zero down solar depends on what kind of financing you want. If you’re interested in a loan, pretty much any solar installer – big or small, national or local – can handle it, since you can simply go to a bank or credit union and take out the loan yourself, then have them install the system.

Is a solar loan a good investment?

Solar energy systems are an expensive investment, which is why about 85% of all solar system installations are financed. The zero-down option with the most financial upside is a solar loan. When you take out a solar loan, you borrow money from a lender at a fixed-interest rate and pay it back in monthly installments.