In view of the increase in the price of electricity, self-consumption becomes a real necessity. This is where the photovoltaic panels loan comes in.
A photovoltaic panels loan for significant savings
We are in an era where it is unthinkable to live without electricity. How would we operate multimedia devices, appliances, lighting …? However, it is clear that energy bills tend to rise, which inevitably has an impact on the household budget. This increase is mainly due to increased consumption as new electrically powered appliances appear on the market. The installation of photovoltaic panels is therefore an attractive option.
Why invest in photovoltaic panels?
At present, 80% of the energy used in Belgium is fossil (non-renewable). They are generally produced in foreign countries, which contributes to the steady increase in their costs. In addition to incurring heavy expenses, fossil fuels have harmful consequences for the planet.
It is therefore important to switch to renewable energies. Solar panels allow you to produce the electricity you need. In other words, you no longer depend on electricity suppliers, which cancels or at least helps to reduce bills significantly. As solar panels run on green energy, you can freely consume electricity without worrying about the impacts on the environment. These benefits are guaranteed over the long term.
Nevertheless, the acquisition of this equipment is quite expensive. That’s why many consumers decide to borrow money to provide partial or full funding for their projects. You too can apply for your photovoltaic panels loan.
How does the type of photovoltaic panels loan ?
The credit proposed to finance the purchase and installation of photovoltaic panels is similar to the green loan. As a reminder, the green loan or energy credit is offered to Belgian residents who wish to start work to optimize the energy performance of their homes. The credit granted must be used for the reason mentioned in the request. Remember to provide a quote as supporting document because the allocation of the loan is subject to acceptance of your file.
In Belgium, the amount granted ranges from € 2,500 to € 30,000. It is repayable over a period of up to 120 months. As this is an installment loan, you pay a fixed monthly payment with a fixed interest rate over the entire loan period. The amount to be refunded every month is therefore determined in advance, which leaves you free to refuse or accept the offer in question. This stability assures you a great ease in your financial management.
Find a loan in accordance with your expectations
There are many financial organizations offering credit to finance solar panel installation work. Each of these institutions applies its own conditions. It is therefore necessary to take the time to assess your needs before you start borrowing.
Start by comparing the offers for photovoltaic panels. You will need to consider the consumption of your home to determine the best option.
In parallel, you must evaluate your debt capacity. This is the amount you can use to pay back the photovoltaic panels credit. It corresponds to about 30% of your income but varies according to the banking establishment to which you apply. To make it easier, consider using a credit simulator. You will see how much you can borrow according to the loan term.
The comparison of the loan offers for the installation of solar panels is an important step. Pay special attention to rates that can lower or increase your monthly payments. Also note that some institutions are quite flexible on photovoltaic panel credits. These financial organizations accept, for example, that a certain percentage of the credit is allocated to the panels and that the rest is engaged in other energy-saving works. These credit offers are interesting if you plan to redo your insulation or invest in electrical appliances that consume less than the ones you currently use.
Also inquire about the duration of the processing of your file, the different reasons that may motivate the refusal of your application, not to mention the terms of a possible refund. It is important to understand all the details of the offers received before you commit.