If you are considering getting solar panels for your home, you’re probably thinking about how you can afford them. A while back there were lots of free solar panel deals available, but you may have noticed they are nowhere near as prevalent now. While you may still see one or two offers of this kind, there is no telling how long they could be around for.
Considering a solar panel loan
The next best option is to look for a solar panels loan. This means you will get a loan to pay for your solar panels. Instead of the free deal whereby the company providing the panels gets the feed in tariff until the panels are paid for, a loan will enable you to enjoy the free energy as well as getting the feed in tariff that is payable.
Clearly you have to do the sums to figure out whether you will benefit from this. You will need to assess the size of solar panel system you can have installed, as well as how much you can get it for. This will determine the size of the loan you need, so you can look for the best offer on the market today.
What options do you have?
There are two options you have when looking for solar panel loans. Firstly you can go directly to installation companies to see if they have any schemes whereby you get a loan directly from them. Engensa is a good example of this, and they also charge reasonable prices for the installation of the panels.
The other option is to look for a loan from another source. There are a couple of green lending companies that focus on loaning money for purposes such as these; just look up green loans and you can find out more about them. This means borrowing money from a lender to pay the solar panel company, so you will pay the money back to the lender directly.
Do your sums
Obviously the best thing and the most important thing to do from the very beginning would be to do your sums so you know where the best source is for a loan. You should also work out how much you will earn through free energy and the FIT process to see how quickly you could reap back some of the cost of having the panels installed.
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