ResiMaxx Lending: Financing Options for Solar Residential Project
By properly financing a SunMaxx Solar Thermal Solar System, you can switch to solar for as low as $0 down, AND potentially pay for the system through monthly payments lower than your current utility bill. For up to 20 years, you will enjoy predictable, pre-determined water heating rates, not only directly saving you money each month, but also eliminating the future risk of fluctuating fuel prices.
A ResiMaxx Lending solar loan allows you to:
- Pay LESS for the same amount of energy saving you money over the life of the system
- Use clean renewable energy which helps create a sustainable future
- Invest in your own solar system, and correspondingly the value of your home, rather than forking money over to the utility each month.
SunMaxx Solar’s industry leading line of solar water heating products are among the most highly rated components by the SRCC for quality, reliability, and performance. Furthermore, our warranties guarantee high performance and solar energy production ensuring you get the most out of your investment. Sign up for a free consultation today to get started.
How Financing Works
Solar thermal (water heating) systems are already significantly less expensive than solar photovoltaic (electricity producing) systems, yet many federal, state, and local incentives apply not only to PV systems, but to thermal as well. When accounting for these tax credits, rebates, and other incentives, solar thermal systems can pay for themselves in 3-8 years (depending on a number of variables such as location, roof angle, system size, etc.). Still, even while installing a solar thermal system represents a great investment over the 20-25 year lifespan of the system, many people balk at the prospect of an initial cost of several thousand dollars. That’s where SunMaxx Financing comes into the picture.
Residential financing for solar thermal systems works very much like HVAC and other equipment financing. SunMaxx Financial helps our customers take out a loan at a low interest rates from our one of our lending partners. Moreover, SunMaxx will assist with the initial capital outlay ourselves through our financing division at an extremely low interest rate, reducing the amount the customer needs to borrow from the lender. These loans shift the large upfront system cost to a monthly investment. In most cases, the utility savings, coupled with any tax incentives or rebates and the increased value of the home, combine to offset the monthly cost of the plan, and in fact provide significant utility savings savings over the life of the system.
Example & Explanation
Say you decide to install a solar thermal system on your home which lowers your utility bill by $50 per month. SunMaxx could help you secure a loan from a lending institution to cover half the cost of the system. With a low interest rate, this loan might have monthly payments of $25. SunMaxx could then provide the other half of the funds required to install the system at 0% interest, and this monthly payment might be $15 per month. Therefore, you will have paid $0 down for your system, and your monthly payments for the system total $45 per month, while your monthly utility bill has been offset by $50. Now, let’s say you have a 15 year repayment period, after which you fully own the system. In this simplified example, you save $10 per month for 15 years (or $1,800), plus $50 a month for the remaining life of the system. Our systems typically last 25 years, meaning you would save an additional $6000 on your water heating for a total savings of $7,800. Sign up for a free consultation, or call us to start saving thousands on your utility bill today.
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