Cash purchases continue to be a popular solar payment option and the best way to invest in a solar energy system; providing the quickest return on investment. This option requires a minimal deposit with 80% due at the time materials are delivered and 20% due at the competition of the system.
SunPro Solar works closely with several banks and credit unions which offer special solar financing. Some of these options include solar home equity lines of credit and unsecured loans. Many of these options allow the Federal Tax Credit portion of the loan to be paid up to 18 months after the loan funds or will re amortize the loan once it has been applied. One of our Energy Consultants can help you determine which option will work best for you and your financial situation.
Solar leases are a third party ownership option that allow our consumers to install solar energy systems without the upfront cost and also allow non-profit organizations to take advantage of tax-related incentives, such as investment tax credits and accelerated depreciation.
A solar lease is very much like a car lease, where you lease the equipment for a set period of time and benefit from the electricity it produces during that lease period. The customer is essentially hosting a solar power system on its roof that is owned by a third party and enjoying all of its benefits with little or no upfront payment. The monthly payment is typically structured in a way that the power generated by the system costs less ($/kWh) than that of the local utility company.