Solar on a flat roof, video credit to homeowner

Getting solar panels for your home is not only a great step to adopt a greener lifestyle, but it also makes economic sense with the added benefit of providing savings on your electricity bill. Unfortunately, while the cost of solar panels has decreased dramatically in the last decade, installation costs has remained high, acting as a deterrent for most property owners.

Paying for your home solar system outright allows you to set your household budget accurately and reliably. It is a great investment for your electricity utility as you are essentially paying for a minimum of 25 years of electricity. The benefits of upfront cash option would be insurance from the rising cost of utility, inflation, and interests.

However, the upfront payment for solar system tends to be significant and would require capital on hand.

Aside from a capital expenditure to getting solar for your home, there are alternatives if you do not wish to part with a hefty upfront sum, and advantages that comes with getting a solar loan.

Taking out a solar loan does delay your break-even point, but the long-term benefits outweighs the temporary disadvantage by reducing your electric bills and enhancing your property value.

Financing options for your home solar system

Green Mortgages

If you are buying a new home, you may be able to use a green mortgage to pay for your solar system. It offers a slightly lower interest rate, and in some cases, cashbacks, for buying an energy efficient home.

A valid Building and Construction Authority (BCA) Green Mark rating will be required for your property to be eligible for this mortgage.

Solar loans

There are attractive loan options, to help homeowners with the upfront cost of installation. When choosing a loan, do take note of the following:

Annual interest rate:

The less you pay for the loan, the faster the solar system pays for itself through energy savings.

Repayment period:

Getting the shortest loan term that does not create a strain on your finances, and yet ensures you do not have to pay more interest than required. I.e., If the repayment term is too short, your monthly payments may be too high. If the term is too long, you will end up paying more in interest than you need to.

If the maintenance of the solar system is to be taken into consideration, the payback period may increase. However, the maintenance of solar system is minimal.


Sometimes these loans have cash benefits when the financing body has other partnerships. UOB’s U-solar programme for example, entitles the borrower to a cashback and a gift card to lower the barriers of solar ownership.

Other benefits of UOB’s U-solar programme include a 0% interest for up to 36 months.

Eigen Energy currently collaborates with UOB U-Solar programme for residential properties. More information can be found here.

Solar panels on a tile roof

How to apply for solar loan?

In just three simple steps, you will be able to apply for the U-Solar programme for your landed property.

Step 1: Get in touch with us for a consultation, assessment and rooftop inspection.

Call 6979 5811, WhatsApp 9233 3832, Email

Step 2: Accept our proposal and pay using a UOB credit card.

If you have a UOB Go Green Home Loan, you can use applicable U-Solar subsidies to offset your bill

Step 3: Fix a date with us for your solar installation

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