Financiación de placas solares

All about financing solar panels

There is a reality. Although solar energy provides the certainty of having low electricity bills for decades, joining photovoltaic self-consumption presents a great challenge: the disbursement of an initial investment or cash payment.


The solution? Acquire a solar energy system on credit or with financing. Different sources allow having a photovoltaic installation and saving on the electricity bill at the same time.

We all like the idea of having small electricity bills and we are also very careful when it comes to getting into debt. Yes. But in this case, solar financing is different, because if executed correctly, a well-financed and properly sized solar system can save you more money per month than it costs you to finance it.

Here, we present 8 ways to finance solar panels for a home or business. This can be done through a bank, an installation company or by renting the panels on your roof for a monthly fee. We invite you to continue reading and discover the different options and types of financing!

How to finance the installation of solar panels?

The amortization of the solar installation, without the need for financing, occurs during the first 6-7 years (on the peninsular average), so it is very common to acquire solar panels financed during said period of time calculated for return on investment.

Also remember that Spain, like other countries of the European Union, offers subsidies that are very beneficial to promote solar energy and other renewables. For photovoltaic installations there are aids and subsidies that help to finance them.

If you want to know how much your installation could cost and how long it will take to recover your money, you can fill out this simple form with only your electricity bill and your zip code. You will see data about your savings and the time needed to amortize your installation of solar panels, as well as quotes from installers in your area.

This information will be useful for you to compare offers and contact experienced photovoltaic companies that can carry out a study for your home and search with them for different financing options for your solar system.

From Quiero Sol we want to help you in this article, showing you a series of financing options that are available.

8 ways to finance a self-consumption facility in 2023

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Financing for solar panels and savings for your home. 

Financing for solar panels

1. Photovoltaic credits - Green loans

Green loans are very low rate loans offered by financial institutions that are generally interested in helping the environment and the community. Currently, there are many financial entities that have loans or credits focused on this type of facility.

2. Extension of the mortgage for solar panels

Another option is the extension of the mortgage. Although this is not accepted by all banks and depends on the specific situation of the client.

The challenge with financing solar through a mortgage is that people stick to the minimum payment and this doesn't always pay off. For example: If you plan to pay off your mortgage in 25 years, then the cost of your solar system could end up almost double, if interest over time is factored in.

3. Consumer loans

Consumer loans are an option that can be used. However, the fact of financing solar panels with these considerably increases the cost of interest because they normally have higher costs compared to other types of financing.

4. Companies that rent solar panels (renting of solar panels)

There are installation companies that offer the rental service of solar panels. Said company carries out the work, pays for the installation and establishes in the budget -and then in the contract- the rent that the client must pay. In this way, the installation will not be owned by the client, who only benefits from the energy it produces, and pays the aforementioned monthly rent (for the duration of the contract or the useful life of the installation).

💡💡If you choose a rental option, make sure that the amount to pay is not greater than your monthly savings. To do this, compare the price of the system you are acquiring with the total amount you will pay during the rental term.

5. Finance the solar panels through the installer

Some installers offer the financing service in their budget, adding the corresponding interest in the price of the installation.

Financing can come from company funds or bank agreements to offer your customers a way to acquire financed solar panels.

6. Leasing of solar panels

Another option offered by some installation companies is photovoltaic leasing. There is no need to go to the bank since the company takes care of the initial investment.

Payment for the installation is made in terms established in the contract. Said installation is the property of the installer until the customer pays the last installment, and that is when he becomes the owner of the photovoltaic installation.

7. Crowdfunding for solar panels

Crowdfunding is when some people lend small amounts of money so that you can install solar panels, in exchange for a small financial interest that is agreed by contract. The interest is smaller than that of the banks, since there is no profit motive but an awareness of some type of activity (as in the case of renewable energies).

8. Photovoltaic cooperatives

Finally, there are the renewable or photovoltaic energy cooperatives. They are consumer associations whose objective is to carry out activities to promote renewable energy.

As is often the case, each of these forms of financing solar panels has its pros and cons. But don't worry too much about it. When you request a quote for solar panels, take advantage of the advice of photovoltaic companies and see if they have any form of financing for solar panels.

From Quiero Sol we always recommend comparing several installers to find who offer you a personalized study and a budget adjusted to your real needs. Do you dare to start your journey towards self-consumption?

Request quotes here!