Solar system financing

[foobar]

$3,000 bank fee? lol What installer offering you this deal?

Sent you a PM on the installer.

[jlgarza15]

EECU out of Fresno finances solar for 6.5%, no upfront fees. You have to be member, but they take care of that. I went through them.

[foobar]

EECU out of Fresno finances solar for 6.5%, no upfront fees. You have to be member, but they take care of that. I went through them.

Is that over 12 years? Amortized $19k @ 6.5% over 12 years == $8400 interest.

The other plan seems still better even if I rolled the $3k into the original $19k amount:

$19k + $3k == $22k @ 2.99% over 12 years == $4,209.42 interest therefore the amount to finance == $7209.42. $1200 less.

[Naptown]

Buying the Sunpower system as that's what the financing looks like

[foobar]

Buying the Sunpower system as that's what the financing looks like

Naptown ?

[jlgarza15]

Is that over 12 years? Amortized $19k @ 6.5% over 12 years == $8400 interest.

The other plan seems still better even if I rolled the $3k into the original $19k amount:

$19k + $3k == $22k @ 2.99% over 12 years == $4,209.42 interest therefore the amount to finance == $7209.42. $1200 less.

I did 7, they tried to get me to do ten, the longer you finance the more money they make. I'd rather finance than give my money to PG&E with no end date.

[foobar]

I did 7, they tried to get me to do ten, the longer you finance the more money they make. I'd rather finance than give my money to PG&E with no end date.

Agreed! Although I'm waiting on Sunking to chime in otherwise.

[Sunking]

Agreed! Although I'm waiting on Sunking to chime in otherwise.

Don't wait on me. I have not financed anything in over 20 years. Learned that game a long time ago, now I am on the receiving end. People pay me, I do not pay them.

[Naptown]

Buying the Sunpower system as that's what the financing looks like

Naptown ?

Actually looks like you are buying a Sunpower system.

[russ]

Guaranteed I would pay the power company rather than a finance company - I can stop any time I want there.

Like Sunking - it has been many years since I financed anything.

[foobar]

Guaranteed I would pay the power company rather than a finance company - I can stop any time I want there.

Like Sunking - it has been many years since I financed anything.

How would you do to get electricity if you stopped paying your electricity bill?

[russ]

How would you do to get electricity if you stopped paying your electricity bill?

I wouldn't and you won't either - The costs where I live and with zero incentives make solar PV totally unreasonable - we have to pay the entire costs - nothing is dumped on the neighbor.

[foobar]

anyone have their solar financed through Admiral's bank or Enerbank? Any feedback?

[snic]

Anyone know of solar financing available for less than 3% over 12 years WITHOUT the $3k finance up front fee?

My installer mentioned a few months ago that one of the solar panel makers - I think it was Aleo - was offering 2.9% financing for whatever costs are not paid by incentives and credits. Actually it's somewhat better than that - I think the rate is lower or zero for the first 6 months or a year (i.e., until you get the tax credits), then it goes up to 2.9% if you don't pay off the entire loan. Google "Aleo financing" and some articles come up. I'm sure you could ask Aleo for the names of local installers of their panels.