Going solar is a great way to save money and the environment. But the process of actually getting panels on your roof can be a little bit intimidating. Luckily, our personal solar consultants are here to guide you every step of the way! See below for an overview of some of the solar options that are available. And feel free to call or text us at 209-418-7728 if you have any questions.
$0 Down Purchase
This is a very popular option for homeowners who have tax liability and would like the solar to increase the value of their home. With this option you finance the solar system with a solar loan and make monthly payments on it. Since you purchase the system, you keep the available Federal Tax Credit*. The U.S. Department of Energy’s Lawrence Berkley Laboratory has found that owned solar panels increase the value of your home when you go to sell. The ability to finance with $0 down, with payments less than your power bill, makes this our most popular option and the one that we most often recommend.
$0 Down Lease
Similar to the $0 Down Purchase, this option is attractive because it requires no money upfront. With this option the solar leasing company maintains ownership of the panels and therefore the tax credits. This is a good option if you don’t have any tax liability. Again, this option will almost always have lease payments less than the homeowners current power bill.
This option requires the homeowner to pay for the system in full at the time of installation. While installers generally give a cash discount for systems paid-in-full, this option is less popular. With this option the homeowner maintains any available tax credits*. Want to just put a little bit of cash down? No problem! With our personal solar consultants we can mix and match these options and figure out what combination works best for you!
Similar to a cash purchase, a pre-paid lease requires payment in full upon installation. The difference is that with a pre-paid lease the homeowner does not maintain the tax credits and therefore the price of a pre-paid lease will generally be cheaper than a cash purchase. This is an excellent option for homeowners with cash that do not have tax liability.
We are happy to sit down with you, or chat on the phone, about these options more in detail if you’d like to see which option would work best for you! Feel free to call or text us at 209-418-7728 or to request a quote.
*since we are solar pros, and not tax pros, be sure to consult a tax professional for any tax-related advice