Don’t let interest rates scare you away from installing solar panels. Despite current high-interest rates, solar is still one of the greatest investments you can make for your home.
In most cases, the benefits of solar largely outweigh the cost, especially in the long term. In the short term, solar doesn’t have to become an extra financial expense either. By saving on their power bill, locking in their expenses, and increasing the value of their home, homeowners can still enjoy major benefits in the midst of high-interest rates.
Financial Benefits of Solar
Prices are going up everywhere and power bills aren’t an exception. Installing solar panels can help you eliminate your expensive power bills and remove stress from increasing electricity rates down the road.
Once your panels are installed, you’ll see immediate savings on your power bills. If you’re financing a system, you can put these savings toward your monthly financing payment. With the right roof and solar program, you could even see immediate cash savings by the first day. By installing solar, you’re also investing in your home’s value. Studies have shown that solar could increase the value of your home by up to 4%!
How You Can Still Get 0% Interest For Solar
There are still low-interest rate options that homeowners who are looking to go solar can take advantage of.
We offer an award winning low interest financing program with rates as low as 0%. Our Sunline financing option has helped thousands of Canadians go solar across the country. Our goal is to create and maintain affordable solar options for Canadians to protect the environment for future generations. Our financing terms vary between 12-16 years depending on the province, with rates between 0%-0.99%.
Another popular financing option is the 0% Canada Greener Homes Loan from the federal government. You can receive up to $40,000 on a 10-year term to make your house more energy efficient.
With these 0% financing options available, high-interest rates won’t have to impact your decision to go solar.