A quick guide to helping you find the right finance partner to go solar with.
Need a little help to make the switch to solar power? The right finance partner can help you get over the final hurdle, especially if you aren’t too keen on taking out a loan. However, as with all relationships you need to find one that’s just right for you.
What is a solar financing company?
A solar financing company is one that strictly focuses on offering financial solutions to help you purchase a solar system and cover installation costs. These include green loans, payment plans, leases and other solar finance options available. While you can approach them directly, most companies partner with solar installers who offer their services as turnkey solutions. Some installers even partner with multiple companies to give their customers more options. A financing company and a solar installer will only partner up if both parties deem each other credible and trustworthy, so more often than not you can trust the finance partner your chosen installer recommends. However there are still a few things you should keep in mind.
The perfect match
- Consider available financing options and decide on which one is right for you. Check out our post on different financing solutions for more details. Then figure out if the solar installer you are considering offers that option via a partner or not.
- Do a little research and compare financial offerings and plans to ensure that you are getting the best deal. Consider interest rates, repayment terms and perks, which include a discounted interest rate and unemployment protection.
- Assess the credibility of the partner for yourself with a quick review of their experience, consulting with people who have used their services before and looking up customer reviews.
- Look into flexibility and whether they are ready to understand your needs, offer advice and work out a plan that works for you, rather than presenting fixed plans.
- Ensure that the relationship between solar installer and financier is a strong one.
Installers come first
As mentioned earlier, the journey to finding the right financing option and finance partner, more often than not begins with choosing a solar installation company you can rely on. They will often offer advice on the ideal approach based on your requirements. For tips on picking the right solar installer tune in to our post on it. The time to go solar is now so find the partners you want to take this journey with and embrace life on the sunny side.