Q: Where can I go to get a loan for a solar panel system. Are there specific banks you recommend? Is a down payment required?
Asked by Justin
A: You can finance your system in a number of different ways. The easiest way is through home equity. If that is not available there are a number of banks with special ‘green’ financing options. Contact your local banking center. Money is also available from government incentives, rebates and grants. These can be found on Cooler Planets solar calculator. Another option that may be available is called a PPA, or power purchase agreement. This requires little money down but you simply purchase the energy rather than owning the system.
If you wish to purchase a solar system, you will usually need a down payment. It is usually lower than one might think based on the federal, state and local incentives.
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