Credit cards that earn interest on your solar panels have been making a comeback.
Now they’re even more attractive because of rising interest rates.
But even if you pay off your loan, you might have to pay more in interest than you paid on the solar panels themselves.
The latest data from SunPower, a leading solar panel manufacturer, shows that most borrowers will pay more interest than they received on the panels.
That’s because solar panels are not charged the full amount of the loan.
The company says that borrowers will actually pay less on a loan with solar panels than they would if the loans were paid off at the full rate.
SunPower expects to issue new loans of up to $3,000 a year starting in March.
That will be an increase of more than $400 from the current $1,000 loan.
The company says it will also offer solar loan products at a lower rate, which will be more affordable to borrowers.
Solar loan interest rates have risen at an average annual rate of 4.2 percent since January 2015, according to SunPower.