Home Solar Purchasing OptionsSaving on monthly energy bills and achieving energy independence are the two main reasons homeowners purchase solar panels. You can also save on the initial solar investment due to special government incentives and rebates.
There are basically two ways you can acquire affordable solar panels and become energy-independent: purchase or lease. The most important element to understand about each option is that when you lease your solar panels, the leasing company owns your system and is therefore able to collect any available tax incentives. When you purchase solar panels, you get to keep the tax incentives for yourself.
To help you get started we've outlined a the most popular options below. If you still have questions or would like to discuss further, our solar experts are always standing by to help.
Today, it's possible to finance part or all of a solar system purchase. There are a variety of secured and unsecured options available with terms of 12 to 20 years. Sun Valley Solar Solutions recommends financing only the necessary portion of the net cost after incentives in order to get the best payback.
In addition to a loan, a buyer can also acquire short-term financing of the credits and incentives to keep initial out of pocket expense low without long-term financing.
An added benefit to purchasing or financing your solar electric system is the net increase in your home’s real property value. According to estimates by the National Bureau of Economic Research, solar panels added a $20,194 value premium to the sales price of a home (houses in the study were in the mid-$500,000 range).
Standard and special mortgages are available to homeowners who want to finance portions of their solar investment. In one case an energy efficiency mortgage credits a home’s energy efficiency in the mortgage itself. Some options are targeted to new home construction, while others may apply to existing home improvements. Our solar integrators can help you determine the best fit for you.
