Stay tuned because a new twenty-year loan will launch in the Phoenix, Arizona, metropolitan area. It is brought to you by Sun Valley Solar Solutions, of course. The interest rate will be just below the 7% range or so, jumping up to just below 10% or so if the first 30% of the loan amount isn't paid within 16 months.
The first 16 months of the solar loan are interest-only. The reasoning is that the consumer should be able to use the federal tax credit of 30% of the system cost to pay down the loan if they so desire.
The loan can be prepaid or paid down anytime without penalty if the company encourages it. This finance company started on Wall Street because its founder worked there all three days before his high-profile employer went belly-up. He understands the ins and outs of money and thinks investors need to understand solar.
According to him, why would finance companies fall all over themselves to provide car loans, backing assets that depreciate the minute they drive off the lot, yet not see the value in an asset that sits on someone's rooftop and generates energy and cost savings for 25+ years?
This is exciting and fun to contemplate. We'll hopefully share more about this new way for people to participate in the hot Arizona solar market next week!
Are you interested in solar for your home or business? If so, please contact our team for a complimentary consultation today!
%20(19).png?width=800&height=500&name=CONTENT%20(800%20x%20500%20px)%20(19).png)
%20(17).png?width=500&height=312&name=CONTENT%20(800%20x%20500%20px)%20(17).png)
%20(18).png?width=500&height=312&name=CONTENT%20(800%20x%20500%20px)%20(18).png)
%20(6).svg)
%20(8)-1.png)