Finance for Your Solar Investment
Central Coast Energy are proud to work with Community First Credit Union to provide attractive terms to finance your solar investment.
You may have come across the term “interest free” on your solar journey so far. This term can be some- what misleading as it can be interpreted that there is no extra charge on top of the cost of the system if it was purchased outright. This is certainly not the case. Lending companies charge a “fee” for their service which in most cases is up to 20% of the outright purchase price of the solar system. So the term “interest free” is then used to make the customer feel as though they are getting something for nothing. At the end of the day no one is going to lend money for nothing.
Community First however offer low interest loans to people wanting to invest in solar. For the convenience of paying of your system and not having to dip into your savings, this is the cheapest way to go.
Community first’s low 6.12% interest rate on a $5000 system over 5 years would cost you less than $175 extra per year in interest for the convenience of paying the system off.
Compare that with your “interest free” option and you’re looking at $585 per year for the same system.