Finance options for residential solar

March 14, 2019

Australia is one among a few countries that is separated from both the poles which makes the presence of movements of frigid polar air during winter almost impossible. This type of climate is most suited for solar power. But the biggest question remains how can an average Australian resident afford solar power? In the same manner they can afford cable television. At a fraction of cost, now it’s possible for an Australian resident to procure solar panels atop their homes through a finance option. A monthly repayment scheme makes it affordable for a  resident to have solar power in their homes for a fraction of cost that would have supposedly gone into, if they would have bought it straightaway. Finance solar is the best answer. Solar installation finance is gaining popularity in recent times.

Residential solar finance has become a viable option for many Australian homeowners. Retail and residential finance is almost the same as a regular loan that can be taken from a bank or a loan agency. It can be thought of as a car loan. Solar finance for home is same as a regular loan where the homeowners can take a loan for the solar installation, the installation finance to cover the due cost of the solar installations. Like any other, solar finance is also paid over time to the loan agency or bank with appropriate interest.

The cherry on the cake is an Australian homeowner almost immediately starts savings on their electricity bills, which makes it lucrative for them to go green. The Australian government has provided Australian Solar Institute (ASI) with $150 million to invest in the growth and to increase the usage of solar energy as an alternative for a better environment.

The different options for Solar Installation finance are:

  • Merging solar and home loan

The merger of both solar and home loans is a very lucrative option especially for residents who just bought a new home because of the reduction in the interest rates and the systemized pattern of their debt repayments. Lower interest rates in the solar finance market seem to be the best incentive one gets after the resident gets their loans bundled together.

  • Green Loans

Banks nowadays are offering something called, ‘Green loans’, which are simply like a regular loan just with much lower interest rates as the Government has been coming up with a lot of green loan schemes which are dependent on the location you reside in and other relevant factors.

  • Find Solar Installer Network

Find Solar Installer Netrwork is offering financial packages for residential solar power installations and these financing options are either completely interest-free or they come with a small amount of interest. The types of finance options Find Solar Installer Network has are as follows:

  • Residence solar power financing at no interest

Interest-free financing is provided by some installers at no interest for a course of 6-60 months. At a very little or interest free payments to a consumer, this option enables a new users to evenly spread out the cost to make the paying off more manageable.

  • Solar Leasing on agreement basis

This option is highly popular as well as successful in Europe and US and now this is available in Australia too through Find Solar Installer Network. The company installs solar panels on the rooftop of the customer under such an agreement at no immediate cost. Customers eventually enter into a 10 to 20 year contract to eventually buy the solar installations from the merchant at a lower rate than that of retail electricity, which leads to a lot of saving in the domain of electricity bills.

  • Other options

Other options on the Find Solar Installer Network include installers offering finance for solar systems at a set cost. Packages may provide residents with an option to pay in easy installments along with interest and on top of that the resident will incur a lower ultimate cost if the debt is paid off faster.

There are solar payback calculators which will help you make an informed and intelligent decision. Check out all the finance options before you choosing the most viable option. Go Green! Save Green!     

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