Does anyone have experience with Solar Financing companies?

October 29, 2021

by a searcher in Atlanta, GA, USA

I've just gone through the process of putting solar panels on my roof. Wondering if anyone has any thoughts on the financing side of this industry. Mom and pop shop that I went with for install had one reference and it was a credit union 3000 miles away. I could be buzzing from the novelty of the panels, but it seems like there is decent opportunity here.

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Reply by a searcher
from University of California, Los Angeles in San Francisco, CA, USA

My experience was with my parents’ home and it was a horrible experience. They thought they were simply financing the panels. But, They essentially pre bought a certain number of kw hours for each of the next 20 years. When mom passed last year and dad moved, it created a total cluster of figuring out who actually owned the panels as their loan had been resold a couple of times without them actually knowing. I’m happy to get you the financing company’s name. They were horrible.

So, based on my experience, there is an opportunity to provide a simple, clear, and honest financing solution.

best, KLM

Reply by a searcher
from Lafayette College in Charlotte, NC, USA

Financing in the trades is certainly interesting. There are several options for traditional trades (HVAC, Plumbing, Electric). Some of those lenders shy away from solar. There are some dedicated companies that do lend for residential solar and financing makes solar a lot easier to sell.

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