After a lot of head banging I finally decided to go for Solar panel for my home. I did a lot of research on various web sites. I understand that I do not have to pay upfront for the cost of solar panel. There are a lot of financing schemes available. Since I have a good credit rating I think I will qualify. Somebody please advise what will be the cheapest way, upfront or financing??

There is no simple answer to this question. It depends on your utility rates, the interest rates offered, and if it's a photovoltaic, whether you have net-metering (and whether it's at full retail or an aggregated wholesale), etc.

Well with most anything in life, paying up front is usually the cheapest long term choice as there are finance charges with any financing program. However, solar is quite expensive and paying upfront can be difficult. If you qualify and can get a good rate I would say go for it. Make sure you really investigate government rebates or other incentives before going forward as you may be able to get closer and closer to paying for a large chunk up front. What state are you in? California has many great programs like PACE and schemes based on Berkeley's FIRST Solar program to help homeowners. There are also many places where you can rent out rooftop space to a large collective to get the energy benefits (but not the financial value should you ever choose to sell the home). Good for you, though, and good luck!