The high price tag that comes with a solar panel system can be intimidating. If you don’t have the upfront cash to install a 10kW solar system, there are many financing options available.
If you qualify, a zero-down solar loan is a great way to finance your solar system. Solar loans allow you to own your system and still get significant long-term electric bill savings.
In some states, solar companies may offer solar leases or solar power purchase agreements (PPAs). With solar loans and solar leases, you don’t pay the upfront costs of solar. Instead, the solar company owns the solar panels on your roof, and you pay them a monthly payment for the solar energy the system produces.
Although they do reduce the amount you’ll have to pay upfront, both solar leases and solar PPAs have lower long-term electric bill savings than if you had purchased the system outright.