How To Finance Solar Power For Your Home
A great way to save money on your monthly utilities is to install solar panels for your home. There are several easy financing options that you can take to
Solar Power Financing Options
There are several solar power financing options you can use. If you have the capital upfront, you are good to go! But most people probably need a little help. Read more about the following solar power financing options, and then talk to us to figure out which will work best for you!
Get A Solar Loan
When you get a solar loan, you then own your system. With Solar Spectrum, your monthly savings from using solar power will be greater than your loan’s monthly payment. You’ll also save anywhere from 40% to 70% over the lifetime of your solar panels. On top of that, the interest on your loan could also be tax deductible, not to mention up to a 30% federal tax rebate on the entire cost — provided you install your solar panels before December 31st, 2019! (After that the rebate shrinks every year.)
Get A Solar PPA
You can also get a solar power purchase agreement (PPA). A solar PPA is a form of a long term solar lease. You only pay for the solar power produced based on a low fixed rate that is usually less than what your local utility company charges. You’ll also save 10 to 30 percent per month over your utility’s electricity bills without any upfront investment required. And you don’t even need to worry about maintaining the system. The third party company you lease from will be responsible for everything, from installation to maintenance.
Typical Solar Power Prices
Solar power prices are determined on the size of your home, your monthly energy costs, and how well your home can generate solar. For example, if you have a 3-bedroom, 2 bathroom home with an average monthly energy bill, you probably would not need a large solar system. But if you use your A/C a lot or have a large home with a pool, you could require a much larger system. Just remember that the upfront solar power prices you pay will lower your energy bill over time.
Overall Benefits Of Using Solar Power
Making the decision to install solar panels onto your home will be a lifetime ROI. You’ll increase the value of your home with some buyers paying an additional $15,000 for the addition of solar panels. And homes with solar panels usually sell faster than those without.
Contact Solar Spectrum For Next Steps
There are plenty of financing options you can choose from. Whether taking out a loan, or opting for a solar PPA, Solar Spectrum makes it easy.
Start saving today!
Click here to learn about the incredible benefits of solar power and to request a free solar quote.