Because solar panels are good for the environment and ensure that energy costs decrease, many Dutch people are interested in this. However, solar panels cost a lot of money. It is therefore smart to start saving on time, so that you can pay the solar panels with your savings. Is this not possible or do you want to purchase solar panels directly? Then you have several options to take out a loan for solar panels:
- Borrow from a bank
- Borrow from the municipality
- Borrow from GreenLoans
- Increase mortgage
Loan for solar panels
First of all, you can borrow money from a bank or lender. A personal loan fits best with a loan goal such as solar panels, because you know exactly in advance how much you pay each month and how long you are paying off. Some banks support individuals who invest in solar panels by giving a discount on the interest.
Borrow money for solar panels – At the municipality
A loan from your municipality is another way to finance solar panels. Different municipalities in the Netherlands offer a sustainability loan. The interest is usually lower than the interest that banks charge, but the conditions do differ per municipality. Are you interested in a sustainability loan? Then ask your municipality about the possibilities.
Loan for solar panels – Green loan
GreenLoans is a lender that offers green loans to private individuals. The interest that you pay for a loan at GreenLoans is almost the same as the credit interest that banks charge.
Solar panels mortgage
Finally, you can borrow money for solar panels by increasing your mortgage. The mortgage interest is lower than the interest that you pay for a loan, making this option attractive. However, raising your mortgage entails the necessary costs. Moreover, you cannot simply increase your mortgage. If you are interested in this, ask your mortgage provider about the conditions.
Tip! In the article ‘Mortgage increase costs’ you can read which costs you will have to deal with and how high they are.
Borrow money solar panels advantageously?
Whichever loan you take out for solar panels, it is always wise to calculate in advance whether the costs of the loan and solar panels outweigh the benefits. By comparing the amount that you expect to save on gas and light costs with the costs of the loan and solar panels, you can see whether the investment is worth it.