Installing a solar rooftop system can be a significant investment for homeowners and businesses. To help make this investment more affordable, many banks and financial institutions offer financing options specifically for solar installations.

One common financing option is a solar loan. This is similar to a traditional loan, where the borrower receives a lump sum of money to pay for the installation and then repays the loan over time with interest. Solar loans can be secured (where the borrower puts up collateral) or unsecured (where no collateral is required).

Another financing option is a solar lease or power purchase agreement (PPA). With these options, the homeowner or business does not own the solar system outright. Instead, they enter into an agreement with a third-party company that owns and maintains the system. The homeowner or business then pays a monthly fee to the third-party company for the electricity generated by the system.

When considering bank financing for a solar rooftop installation, it’s important to compare different options and terms to find the best fit for your needs and budget. It’s also a good idea to consult with a financial advisor to ensure that you understand all of the costs and benefits associated with each option.