How to Pay for a Solar PV System


Solar is great, but many people wonder how to cover the cost. While it’s a stable and motivating investment, it is certainly a big investment. Like all investments, there are several ways to organize the financials. As a service to our solar investors, Optimus Solar offers four primary ways to pay for a solar system, each of which comes with varying benefits. 

Option 1: Seacoast Bank Solar Loan – Optimus is an approved vendor with Seacoast Bank.  This means that for solar energy systems installed by Optimus, the borrower has a streamlined process and closing costs are paid by Optimus Solar.  This can usually be done with one in-person meeting, saving time and money.  Terms range from 5-10 years with rates based upon credit scores and debt-to-income ratios at the time of application.

Option 2: Clean Energy Credit Union – Optimus Solar has made an investment in the Clean Energy Credit Union to be able to offer our clients the ability to take out a 12-year loan for 70% of the value of their system at 5.75% interest (with short-term option for the other 30%). This option fixes your loan payment for 12 years, versus utility rates that have historically risen each year. Additionally, once it’s paid off, the system will be producing power for many years to come!

Option 3: Home Equity Line of Credit – A HELOC is usually the most direct way to receive the lowest interest rate on a solar loan.  Many homeowners choose to use the equity in their house to pay for a solar system, and the savings from a reduced utility bill each month are used to pay the loan back. This is secured against a person’s home, while at the same time reducing the long-term cost of ownership of the house, thereby increasing overall value.

Option 4: Cash – Paying cash for a solar system provides the most direct way to monitor the “system payback,” and provides a motivating (>12%) annual return on investment for decades to come.  We recommend this method as the most efficient way to invest in solar, recognizing that it may not suit the means of all clients.

Before embarking on your solar journey, it is essential to know that you are working with a partner that will be there for the long-haul and one that provides options to ensure a financial return to your household or business.  When Optimus installs a solar system on a home or business, we pay any costs associated with loan closing, ensuring that the price quoted is the price paid. Optimus Solar has a long background of financial professionalism. We want to ensure that our solar investors understand the details of their chosen payment option. 



Optimus is Now an Approved Solar Vendor at Seacoast Bank


We are proud to be an approved solar vendor with Seacoast Bank, where the financial process is streamlined. Many thanks to Seacoast for launching their solar loan program! Call us today at 352-535-0227 to learn how this investment in your household can pay off for generations to come.