this post was submitted on 30 Sep 2023
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That is all nice, but I'm not good with taxes or math, so how long will it take you to pay the system off, and what happens if you need to move before you pay off that loan?
I have a 25 year loan so it will take 25 years to pay it off. But that isn't really a problem because if I didn't have the solar loan, I would still be paying more money every month to the electric company instead of the loan company.
If I have to move before the loan is paid off, I can transfer it to the new owners when they buy the house, or simply raise the price of the house when I sell it and pay off the solar loan then, just as I would be paying off the remainder of the mortgage.