The immediate reduction in monthly electricity spending can be enough to cover all, or most, of the solar loan payment. Use our Residential Solar Loan Calculator below to estimate your financing payment. Then compare to your monthly electrical payment. Talk to your solar installer or utility provider to ensure an accurate comparison.
Questions you might ask include:
- What’s the estimated cost of your solar installation project?
- Are there energy efficiency updates that could be done, like installing LED lighting, to reduce the size of the proposed solar system?
- What are the projected reductions in your monthly electric bill after the solar system is installed? Remember, energy costs are projected to increase over time!
- Can you use the Federal Investment Tax Credit? Consult your tax adviser.
- Are there other financial incentives in your area that could help offset the cost of your solar system, or help pay your loan off sooner?
To find out more about loan terms and features, visit our Residential Solar Financing page, Contact Us or give us a call at 888-GPENNY0 (888-473-6690).