There are different
ways you can pay for
your solar system

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    Pay cash upfront

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    Solar finance – add to your mortgage

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    Solar finance – take out a solar loan

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    Solar leasing

loan calculator

Calculate your monthly repayments and total interest cost on your solar loan.
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Consider the
cost of
financing

A solar loan will add cost to your purchase price in the form of interest and any loan application fees. You will pay interest on the loan at current market rates. Your finance provider may also charge you an application fee for setting up the finance. Both of these costs can affect the overall financial viability and payback period of your solar system.

Benefits of
solar finance

No upfront cost

By taking out a solar loan, or adding the purchase cost of solar to your mortgage, you eliminate the financial hurdle of paying for your solar system in one hit. This is often a major deterrent for potential solar customers. Instead, you will pay off your solar system over time by making monthly repayments. Tailored solar, or green loans, range in terms of anywhere from between 3 and 10 years.

Savings can outweigh finance costs

The other major benefit of financing is that you can enjoy savings on your power bill immediately, but pay off the purchase over time. You may be fortunate to be in a position where your solar power savings outweigh your loan repayments. So just by installing solar and taking out a loan your hip pocket benefits immediately!

Your solar
finance options

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    Add to your mortgage

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    Solar leasing

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    Tailored solar loan

Add to your mortgage

This is likely to be the most cost effective way to finance your solar investment. If you increase the amount you owe on your home, you’ll pay the standard home loan rate, because your loan is secured by your property.

Solar leasing

Solar leasing is another form of finance. The major difference between leasing and finance is that when you take out a lease, you do not have ownership of your solar panels. We cover solar leasing options in depth here.

Specific solar loan

With a special solar loan, the cost of finance may be slightly more expensive, as you may be charged a higher interest rate. This is because the loan is not secured by something as credible as your property. However, at current market rates the difference in interest rates is almost negligible.

The advantage of a solar loan is that they are far easier to have approved, and you are likely to pay it off a whole lot sooner; as you are only paying off your solar purchase cost, not the cost of your home and solar system. If you intend to finance your solar power system via a loan, you can either speak to your bank manager and add it to your existing mortgage, or take out a specific solar loan.

We can help
with finance

If you are interested in solar finance, we can help. We can refer you to a specialist in the area of green finance, simply hit the enquire button below and we’ll have them contact you at your convenience. Importantly, we are not a financial adviser, please read this disclaimer for more details.