Paying for solar in instalments: compare total costs
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Compare the total amount payable for the same equipment and services. A low monthly instalment may reflect a longer term, a larger deposit or a smaller installation scope. A finance illustration is not your personal loan offer.
Separate the product from its financing
For credit, compare the annual percentage rate of charge, total amount payable, deposit, term, fees and any required insurance. For a package combining equipment and maintenance, establish the hardware price and the service obligations separately.
Check ownership of the equipment, early repayment or cancellation arrangements and what happens if the property is sold. A service instalment and a loan interest rate are not directly comparable figures.
Test cash flow as well as annual savings
Household support may be reimbursed after you pay the installer. Plan how the full invoice and any loan payments will be funded before reimbursement. Do not treat unconfirmed support as cash already available.
Solar savings vary across the year while instalments may remain fixed. Compare payments with a conservative monthly household budget and a reserve for maintenance or failure. Ask for the full contract and itemised cash price before deciding.