Renogy X offers a variety of financing terms through GoodLeap. Terms are available depending upon your credit score.
While many solar companies hide the details behind your solar financing, Renogy X wants to offer you transparency so that you can make the best decision possible for you and your family, There are two primary pathways for financing through Renogy X:
○ Loan Structure with Bank Fee
This is the most common form of solar financing you will find on the marketplace. In general, most solar companies do not disclose the exact amount of the bank fee in your total price, or even that you're paying a bank fee at all. But bank fees are an amount added to the principal of your solar loan that will typically lower the interest rate you will pay. As a result, this option makes the most sense for homeowners that will stay in their home for a long time and will pay off the loan with regular payments over a longer term.
○ Loan Structure without Bank Fee
We at Renogy X believe it's important for you to have options, and as such, we're proud to offer an alternative loan structure with zero added bank fees. What this means for you is that the cost of solar will be the total cost of your loan. This loan structure will typically come with a higher interest rate compared to loans with bank fees, meaning this option works best for homeowners that either don't plan on being in the home for an extended period of time, or who plan to pay off the loan quickly.