Solar Financing Options
Solar electric system prices have come down substantially and it never made more sense than now. Solar electric system also helps to earn income from unused areas of your property and reduce your environmental footprint.
Ready to go solar but don't have the cash? Our partners' solar Loan programs enable you to spread the cost of your solar system out over time and enable you to start earning money from today. Our partners' wide range of available financing options can ensure that your solar system fits both your energy needs and your finances.
RESIDENTIAL FINANCING OPTIONS
Here are some common methods used to purchase residential solar system:
Buying solar panels with a cash purchase is the most straightforward path to going solar. Owning solar panels will increase your home's value by 3 – 6 %.
Cash purchase make sense if you have cash on hand and like to own your solar system outright and be free of ongoing payments
Home equity loan
It is another solar financing option to manage the cost of solar electric system installation. A home equity loan is a secure loan and makes sense if you have accumulated home equity in your home. Home equity loan payments normally less than other kinds of loans.
Solar loan is another solar financing option to manage the cost of solar electric system installation. A solar loan is an unsecure loan and makes sense if you do not want to hold up you equity in your home.
Both home equity and solar loan will enable you to take advantage of tax-deductible of interest paid. Be sure to check with your tax advisor to see if this is available to you.
COMMERCIAL FINANCING OPTIONS
The simplest way to finance a commercial solar electric project is to directly purchase the system. This would be your best option if your business that has available capital, existing tax liabilities, and the ability to benefit from accelerated depreciation of your solar equipment. Ownership of solar electric system also provides the greatest earning over the life of the system.
Solar Equipment Lease
This commercial solar lease option allows companies to benefit from solar electricity income in exchange for a monthly lease payment for the use of the system hardware. Typical commercial solar lease agreements range from 15 to 20 years at which point the lease can be renewed or the customer can choose to purchase the system for a residual value.
For organizations that cannot fully capitalize on available tax incentives and who want to avoid an upfront capital investment, a lease may be the best option to facilitate your solar project.
With a fully amortized financing, you can enjoy low payback periods and low interest rates. As a solar power company with strong lender relationships we can help you with the best financing option for your situation.