Bring Home Solar Energy With Alternative Financing Methods
For New York City and Long Island Residential solar customers who want to use their own methods of financing, Grid City can work with you. Below are some alternative approaches customers have used to successfully finance solar panels in The Five Boroughs of New York City and Long Island- Nassau and Suffolk Counties.
HELOC/Home Equity Loans – Home Equity Lines of Credit or Home Equity Loans are a great way for homeowners who have existing methods of capital for home improvement investments.
Cash and Finance Combinations- Grid City will be happy to integrate or combine various forms of financing to suit a residential solar customers investment requirements. For customers who want to drive down premiums with a cash investment, an authorized representative would help find the right combinations of capital investment and sources to suit your needs.
Borrowing from 401k
401k holders can borrow against their 401k plan in order to fund and purchase all or part of their solar energy systems. The benefit of borrowing from a 401 is that the interest paid back to 401k loan goes back into the 401k to benefit the customer. For the homeowner who has a sizeable 401k to borrow from, the homeowner can leverage the benefits of going solar while at the same time getting the value of the interest which would otherwise be paid to a lending institution.