The Patriotic Power Solutions Solar Loan: Making a Solar Purchase Affordable

A solar loan is yet another solar financing option to manage the cost of solar panels and installation. There are two common loans to finance residential solar panels: an unsecured solar loan or a home equity loan.

A solar power company with strong lender relationships can help you get an unsecured solar loan for up to 20 years. With a fully amortizing loan, you can enjoy low payback periods and low interest rates. Solar loans come in a range of term lengths to fit your needs.

A home equity loan makes sense if you have home equity available. This type of solar loan allows you to take advantage of tax-deductible mortgage interest. Be sure to check with your tax advisor to see if this is available to you.

Both loans allow you to take advantage of tax incentives such as the 30% Federal Investment Tax Credit (ITC) to help reduce solar costs.