The Problem:
Plenty of people would implement solar panel energy in their homes, but they believe they cannot afford the cost. These people aren’t aware financing options.
The Business
Building on yesterday’s concept of self-produced energy knowledge, I see solar panel financing as an enormous opportunity. Right now, from what I can tell, solar panel financing is handled by the companies themselves. I’m certain without knowing for sure, that the solar panel companies work with financing/banking partners internally. However, no one company is saying, “Hey, we’re company agnostic, come finance with us.”
It reminds me of 100 years ago when homebuilders handled their own financing.
Doableness
Solar Panel Financing will be needed to make solar panels ubiquitous. You need access to large pools of capital. The best way to do this is package and sell the loans. The loans are essentially completely guaranteed by the savings/production generated. The rates, because it’s free money for the customer, should be relatively high. That said, of course, the market will set the rates.
My Thoughts
My wife read my post from yesterday. She said one of her co-workers spent about $15,000 and gets a check for about $300/month. She said all her other co-workers knew about it, would do it themselves, but didn’t think they could afford it. Problem.
Solar Panel Financing is the Business Solution.