Tag Archives: solar loans

is solar worth it

Are solar panels worth it?

Reading Time: 9 minutes

Like any major investment, installing a solar system is a big decision! But, as the cost of solar continues to decline and new energy bills make purchasing more attractive, this decision is becoming easier and easier: for most people, going solar now represents a smart long-term investment with substantial savings. However, before installing a solar panel system, you’ll want to make sure that you can take advantage of these benefits by first considering a few major factors. In this article, we’ll help you answer the question: “Should I get solar panels?”

Here are a few aspects of solar energy to think about before making an investment:

  • Do you own your home, or are you renting?
  • Will you sell your property in the next 10 years?
  • Is your roof suitable for solar panels?
  • How much do you spend every month on electricity?
Continue reading
free solar panels

“Free solar panels”: Are they really free?

Reading Time: 6 minutes

If you’ve been shopping around for a solar panel system, you’ve probably heard at least one company advertise ‘free solar panels’ – that they will install a solar energy system on your roof for free. But, much as with anything, remember that there is no such thing as a free lunch (or a free solar panel).

Continue reading
solar loans

Solar loans: what you need to know

Reading Time: 4 minutes

Want to finance your solar panel installation? Cash purchases and solar leases (or PPAs) aren’t your only options. If you don’t have–or aren’t willing to spend–the capital for a cash purchase but want to maximize the financial benefits of a solar energy system, the solar loan offers the best of both worlds.

Continue reading

Solar loans vs. solar leases

Reading Time: 3 minutes

So you know you want to finance your solar panel system, but one big question remains: should you lease your system from a company, or own your system and finance it with a solar loan? The answer here depends on a few factors, including your preferences, needs, and financial goals. 

Continue reading
Sungage Loan Review

Sungage Financial zero fee loan review

Reading Time: 4 minutes

Solar loans are a very popular way to pay for a new solar or solar plus storage system, since they are a great way to take advantage of the benefits of solar ownership–from tax incentives to increased home value–without requiring you to have the cash on hand to pay for the full system up front. What’s more, many solar-specific loans offer low, fixed interest rates and flexible payment terms, helping you to find the monthly payment that’s right for you. However, a low interest rate (or APR) comes with a caveat: a low APR often means a high cost to borrow money. That cost or fee to borrow money is passed on to your installer, or even built into the overall cost of the project, making a tradeoff between the lowest monthly payment (i.e., low APR) and the lowest project cost (i.e., lowest cost to borrow money). 

Recently, Sungage Financial, one of the most popular solar loan providers on EnergySage, launched a zero fee solar loan to keep your solar project costs as low as possible. Here’s what that means for solar shoppers like you.

Continue reading
New Homeowners

First-time homebuyer? Why solar should be your next big investment

Reading Time: 7 minutes

If you just purchased your first home, first of all, congratulations! Buying a home is no small feat and immediately planning your home’s upgrades may feel overwhelming–but we’re here to help! When it comes to solar, we think it’s a great upgrade for first-time homebuyers because solar saves you money in the long run and increases your home value. We’ve laid out some key questions to answer when making the decision to go solar as a first-time homebuyer.

Continue reading
Tesla solar renting vs leasing and loans

Tesla solar renting vs. leasing vs. buying solar panels

Reading Time: 5 minutes

Tesla’s recently announced solar rental program was met with high hopes, as a program with the potential to make solar more accessible to more homeowners. With a sense of how the program works, the question becomes: how do the savings from renting solar panels form Tesla compare to the savings from owning or leasing solar panels? 

Continue reading
sungage financial review

Sungage Financial solar loans: the complete review

Reading Time: 4 minutes

Solar loans are the fastest growing method of financing a solar panel installation. Across the country, the majority of new solar installations are purchased with either a cash purchase or through a solar loan. Sungage Financial, based in Boston, Massachusetts, is a popular financier in the residential solar industry. If you’re comparing solar quotes from a few different solar installers, you may have received a loan option from Sungage. Here’s what you need to know about Sungage and their products.

Continue reading
power purchase agreements

Power purchase agreements (PPAs): what you need to know

Reading Time: 5 minutes

There are many $0-down financing options available for going solar, including both ownership (i.e. solar loan) or third-party-owned (i.e. leases) solutions. Many homeowners looking for an easy, low-cost, maintenance-free way to install a solar panel system move forward with a power purchase agreement (PPA). In this article, we’ll talk about what solar PPAs are and discuss the advantages and disadvantages of this financing solution.

Continue reading