Want to Finance Your Home Solar System?

Want to Finance Your Home Solar System?

Feb 09, 2023| by Everbright

Want to finance your home solar system?

There are many great reasons to invest in solar energy and battery storage for your home.

Maybe you're looking to save money or want to be more energy independent and be sure that you’ll have power (via battery storage) in the event of a blackout. Maybe you're socially responsible and are genuinely concerned about climate change. Or perhaps you want to fit in among a group of solar-savvy neighbors. Whatever the reason, going solar seems more and more like a bright idea.

Going solar is still very new for most of us and can be a bit intimidating. In this article, we want to help you get familiar with some solar financing options--just in case you're considering upgrading to solar now or in the future.

If you’re like most Americans just getting started with solar, you’re probably asking yourself:

  • Is solar right for me?
  • Is right now a good time to go solar?
  • Will it be a worthwhile investment for me in the long run?
  • How much will it cost to install solar panels on my roof?
  • And how will I pay for it?


Full disclosure--the upfront costs associated with a solar installation can be out of reach for many homeowners. The good news is that various solar financing options are available, designed to match your budget and lifestyle, quickly making solar a reality.

So, what solar financing options are there? What are the differences between each option? And which choice is right for you? Let’s dive in.

With solar financing, you can own the system, take out a solar loan, or do third-party ownership like a solar lease or PPA (Power Purchase Agreement). PPAs have different flavors, with the option to do fixed monthly payments or pay-as-you-produce.

A relatively common financing option is a Retail Installment Contract (RIC). With RICs, you upgrade to solar by agreeing to make payments over time.

If you don’t want to pay the total cost upfront, you can finance the system with fixed monthly payments and a competitive interest rate. With a RIC, you can keep the tax credits, build equity, and save money with clean, reliable energy.

Solar leases and PPAs are perfect if you want to go solar, lock in a predictable energy cost, aren't concerned with tax credits, and enjoy your solar system being managed and maintained professionally.

Leasing gives you clean, dependable power with a complete service package, 24/7 system monitoring, and the option to purchase the system early or at the end of the term.

PPAs are great if you want stress-free solar and more flexible payments. With a PPA, you pay a fixed price--per kWh--for power generated by the system. Typically, this payment is highly competitive compared to what you're currently paying for energy.

We've got you covered--any way you choose to finance your battery storage and solar system.

If you want to pay little to nothing upfront and want to own your system--and keep all the tax benefits while generating clean power--the EverOwn RIC is perfect for you.

EverEasy, EverFixed, or a Flex PPA can be great options if you want to avoid being responsible for maintenance and a smaller electric bill, all with little or no down payment.

EverBright makes upgrading to clean energy accessible and affordable with various residential solar financing options.

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