According to the U.S. Department of Energy, between 80 and 90% of all the residential solar panel systems that have been installed throughout the country are financed. Rather than buying solar panels outright, many Americans like the idea of taking advantage of the solar panel financing options available to them.
If you're thinking about making a solar panel purchase soon, it would be worth considering how you're going to pay for a solar panel system first. You might not be in a position to pay for solar panel installation services with cash.
Using a solar financing calculator in Cedar Rapids, Iowa will show you how affordable it can be to take out a solar loan and pay it off over time. It might make installing a solar panel system more of a possibility for you.
Here are the top reasons why you should give serious thought to getting a solar loan in Cedar Rapids, IA.
Enables You to Invest in Solar Panels Sooner
Installing a solar panel system isn't going to cost as much as it used to in 2023. The prices of solar panel systems have come down significantly over the last decade. But even still, you'll need to be prepared to fork over your fair share of cash when you go to buy a solar panel system.
If you have enough money stashed away in your bank account to foot the bill for solar panels, you're welcome to buy them outright. You're also welcome to spend the next few years squirreling away money so that you can eventually buy solar panels down the line.
But solar panel financing will enable you to invest in solar panels right now. You'll be able to embrace all the benefits that come along with solar panel installation today as opposed to having to wait until later to do it.
Allows You to Pay for Solar Panels Over Time
Does the thought of spending $20,000 all at one time send shivers down your spine? If it does, this could be another great reason to get a solar loan instead of paying for solar panels with cash. Even if you have this cash available, you might like the idea of paying for a solar panel system over time so much better.
You can utilize a solar financing calculator in Cedar Rapids, IA to find out exactly how much money you'll need to pay to have solar panels installed on your home's roof. It'll make going through the solar installation process and paying for solar panels sound so much more manageable to some people.
Grants You Access to Solar Power Tax Incentives
Both the federal government and many state governments have taken it upon themselves to try to incentivize more people to consider doing solar panel installation. They've done this by offering special solar tax credits to those who decide to have solar panels installed on their roofs.
You should learn more about the tax incentives that are available to those who live in a state like Iowa. They might convince you that now would be a great time to have solar installation done.
You should also keep in mind that these tax incentives aren't going to last forever. They're designed to help get the ball rolling as far as solar panel installation projects are concerned. But there is a chance these incentives will begin to get rolled back as the country moves forward.
By getting your hands on a solar loan, you'll ensure that you don't miss out on the opportunity to take advantage of the solar tax credits that are available to you now. You might regret not doing it later if you wait too long to look into having solar installation done.
Gives You a Chance to Cut Your Energy Costs
When you take out a solar loan, you'll obviously be committing to spending a little more money than you are now every month to pay for your home's new solar panels. If you're already struggling to make ends meet, the thought of adding another expense to the mix might be enough to make you want to steer clear of taking out a solar loan.
But here's the thing: While solar panel financing will add a new expense to your monthly budget, it'll also reduce one of your other expenses. You'll be able to bring your energy costs back down to earth.
In some instances, people will save more than enough money on their monthly electric bills to justify the costs that will come with taking out a solar loan. You should pull out a solar financing calculator in Cedar Rapids, IA and see if this could be the case for you.
Puts You in a Position to Make Extra Money Every Month
If you play your cards right, you might be able to do more than just save money on your energy bills each month after you have solar panel installation done. You may also be able to start generating so much solar power that you're able to sell some of the excess solar energy that your solar panels produce for a profit.
That's right. There are some homeowners in Iowa who go through the solar panel financing process and take on another expense each month but then bring in enough money to cover this expense and then some.
Not everyone in Iowa will be able to do this. It'll all depend on where your home is located, which way it faces, how much sunlight it gets, and how many solar panels you're able to fit on your roof. But your solar panels could start to pay for themselves from the second you first have them set up.
Provides You With a Way to Add Value to Your Home
Are you always looking for ways to add more value to your home? You can do it by improving your home's curb appeal, remodeling your kitchen and/or your bathrooms, and making other improvements on the inside and outside of your home.
But one of the simplest ways to add value to your home is by making a solar panel purchase. You will often find that the value of your home will go up after you've taken the time to install solar panels on its roof.
The exact return on investment that you'll get on solar panels will have a lot to do with how much solar power they're able to produce and how they impact the appearance of your home. But you could see a fantastic ROI after you get a solar loan and use it to install solar panels soon.
Lets You Do Your Part to Help Save the Planet
Since Iowa is situated in the middle of the country, you might not think climate change is going to affect the state as much as it will impact states located on the coasts. This may end up being true to some degree, but that doesn't mean that those in Iowa shouldn't still be concerned about climate change.
One recent report suggested Iowa is going to start to experience increased temperatures and intense heat waves in the not-too-distant future. This report pointed out that Iowa's average temperatures could go up by 7 degrees within the next 25 years.
This should concern you if you live in the state. It should also encourage you to consider going through the solar panel installation process as soon as you possibly can. A solar loan can help you embrace solar energy and do your part to help the planet so that climate change can hopefully be stabilized.
Motivates You to Make Other Eco-Friendly Changes
After you use a solar financing calculator in Cedar Rapids, IA to see how much a solar panel system will cost you each month and go through with having one installed, you'll love how energy-efficient it'll be. You'll sleep better at night knowing your home isn't using as much energy as it once did.
You might also feel motivated to take other steps to make your home more eco-friendly. For example, you might look into installing eco-friendly windows and doors. You might also explore the idea of using LED lighting and buying appliances that use less energy than your current ones do.
And all of these positive changes will come from you deciding to get a solar loan and use it for solar panel installation. It might make you wonder why you didn't decide to do it sooner.
Use a Solar Financing Calculator to See What a Solar Loan Will Cost
As you can see, there are so many reasons why you should work on getting a solar loan. Investing in a solar panel system will work wonders for your home, your financial situation, and the planet.
With this in mind, you should start using a solar financing calculator in Cedar Rapids, IA, to see how much solar installation will cost you per month. It might make the idea of getting a solar panel system sound like a better idea to you.
Skyline Solar would like to talk to you more about solar panel financing. Reach out to us to get a quote.