Solar Financing / Solar Loan

Solar financing is a kind of solar loan that gives you the opportunity to own your solar panels without having to lay out a huge initial chunk of money. The cost of solar panels becomes affordable when the payments are split up and delayed by several years. Over the years, you will pay off the solar loan much like a mortgage. There will be a monthly payment on top of the electricity bill, but you can use the savings you have on your electric bill to pay off the principle of the solar loan. In the end, you will own the solar panels in full. With solar financing, you are still eligible for the investment tax credit (ITC) on your taxes.