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So What Are My Options?

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Cash

With a cash purchase you own the system along with all the energy it produces. A cash purchase requires the highest up front cost , but it will pay for itself in six or less years and return the highest return on your investment. You also get all the tax benefits from the Federal Investment Tax Credit. A typical solar home is worth about $20,000 more and sells faster than the same home without solar! 

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Solar Loans

Solar loans are a wonderful financing option because they allow you to go solar and own the system with no money down, and often at a lower cost than what you currently paying pay for electricity. In other words, solar loans make it so that if you can afford your monthly electricity bill, you can afford to put solar on your roof. 

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There are many banks, such as Mosaic, Loanpal, and Dividend, that offer loans tailored to solar projects. These banks allow you to re-amortize the loan at no cost allowing you to apply the tax credit to pay down the loan. We'll work with you to obtain the best loan option that fit's your needs.

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Lease - PPA

Both are a method of third party ownership (TPO), where that third party owner installs solar panels at your property and then sells you the electricity produced by the solar panels at a predetermined rate.

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With a lease/PPA, you’ll typically lock in a set rate for electricity for the next 25 years, about 10 to 20 percent below the rate you currently pay for electricity. Most leases and PPAs also have a built in an escalator to your payments, meaning that each year you would pay more for your solar than you did the year prior. The escalator is usually 3 percent so if the utility rate doesn't increase by that amount each year you could be paying more for your energy than if you had no solar 

 

Because you don’t own the solar panel system in a lease/PPA set up, you won’t be eligible to receive any of the financial incentives and rebates associated with solar; rather, the company that owns the system will be. We have seen countless cases of home sales that are incumbered by these plans and excessive charges leveed when the owner tries to get out of the contract.

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