Installing solar panels is one of the best ways to reduce your utility costs and gain energy independence. However, if you don’t have the cash to purchase solar panels outright, you might wonder how to make them an affordable investment for your home. At Better Tomorrow Solar, we offer ethical financing options to provide you with manageable monthly payments for your solar system in Atlanta, GA, so you can enjoy all the energy-saving benefits that solar has to offer.

Making Solar Affordable for Atlanta Homeowners

We believe that the upfront costs of a solar system should not hold you back from achieving your goal of using renewable energy for your home and taking advantage of decades of savings on your utility costs. With a variety of solar payment options, we make it possible for you to upgrade your home while maintaining your household budget.

Understanding the True Cost of Solar in Atlanta

When calculating the cost of solar, you need to consider not only the total cost of the system, but also any hidden costs like roof repairs, future system upgrades, or repairs. You also need to consider the size of your system as well as any optional components you might add. For example, if you are adding a solar-plus-storage system with a battery backup, your system costs will be higher.

The benefit of solar power is that over time, your system will pay for itself because you will have a very low (or nonexistent) monthly electric bill with a properly functioning system. However, the time it takes for your system to pay for itself will vary depending on how much energy your household uses and what type of solar financing you used to pay for the system.

Cash Purchase: Paying for Solar Upfront

Cash is the best option to pay for your solar panels upfront in order to experience the maximum cost savings. When you don’t have to finance your solar system, you can avoid interest payments and fees that will add to the total cost of installation.

Solar Loans: The Most Popular Financing Option

For most homeowners, solar loans are the right choice for financing. Solar loans often require no down payment, and they may have flexible terms to make monthly payments fit into your budget. With a longer-term loan, you will pay a higher interest rate over the life of the loan, but your monthly payments will be lower. If you can afford higher solar payments, a shorter-term loan will provide a more favorable interest rate to save you money in the long run.

One important consideration when applying for solar loans is checking the dealer fees along with the interest rate. Some lenders will have higher dealer fees to offset lower interest rates, so they may look like they’re saving you money when they’re actually costing you more. Rest assured, we chose to partner with companies that don’t have these hidden dealer fees.

Choosing the Best Solar Financing Option for Your Home

Outside of solar loans, you can also utilize financing options like a home equity loan, home equity line of credit, or solar lease. Better Tomorrow Solar can walk you through your options and help you choose the right financing solution for your situation.

Why Finance Solar With Better Tomorrow Solar in Atlanta

At Better Tomorrow Solar, we partner with several lending providers to offer flexible financing solutions that will fit your needs and budget. We prioritize ethical, affordable financing and offer lease agreements (called a Power Purchase Agreement (PPA)) as well. Contact us to discuss your financing needs and get on your way towards installing a new solar system for your home.

FAQs About Solar Financing in Atlanta, GA

How is a solar loan different from solar leasing? With a solar loan, you will own your solar panels once the loan is paid off. Solar leasing allows you to enjoy the benefits of solar without upfront costs, as you will have a power purchasing agreement that allows you to buy whatever power you use at a set rate.

Is leasing solar panels worth it? Leasing solar panels offer some benefits, but not as much as owning your system outright. However, you are guaranteed savings from day 1, you don’t need to worry about covering the cost of maintaining the solar panels, and it can help you reduce your reliance on fossil fuels.

Is it worth it to finance solar panels? Although financing solar panels will add to the total cost of your system, you can still enjoy a great return on investment over the life of the system when you finance your purchase.

Solar Financing Options Explained for First-Time Buyers