What is the difference between being able to afford solar panels and qualifying for solar panels?
Affording solar panels
When the thought of solar first goes through your mind one of the many questions you probably want to ask is “Can I afford solar panels?”. Assuming you pay your bills (water, electric, internet, home) and have a stable income I can guarantee you that you can afford solar panels for your home. Yes, you as a person seeking solar can afford it no doubt about it. Solar is relatively affordable and with just a little bit of time invested into it you can begin saving yourself a huge amount of electricity.
Qualifying for a solar loan
Although everyone can afford solar not everyone qualifies for solar. To qualify for solar there are a few prerequisites that the homeowner must have. Listed below are the basic requirements needed for qualifying for a solar loan
- A credit score averaging around 650
- Must own the residential or commercial building
- A relatively stable income (Avg. Household income greater than $40k)
- A well-maintained debt
Pretty basic requirements right? Do you think you qualify for a solar loan? Have unanswered questions that you want to know more about? Fill out our contact us form so we can help you out!
Looking for more in-depth information? Download our free E-book “Introduction into Solar“!