Homeowners know it well: general maintenance and monthly utility bills get costly fast.
And your utility bills will only keep going up; throughout California, utility rates have been rising much faster than normal due to a variety of causes.
It doesn’t have to be so bad. There’s an excellent way homeowners can save money: install solar panels! It’s not just good for the environment, it’s good for your wallet, too.
But what are your financing options? Great question.
We’ve got your answers and info on the best solar power financing options for you below…
Solar Power Financing Options
There are those who prefer to pay for the entire solar system the instant they buy it. But if you are like most people and are unable to pay for your system up front, there are several different solar power financing options you can use. Take a look and decide which of the following solar power financing options work best for you.
Solar Financing (Loan)
A solar loan is great if you want to own your system. Your monthly savings from using solar power should be greater than your loan’s monthly payment. In other words, your solar panel payment plus your new low electric bill will be less than what you’re paying your ordinary utility today. And it’ll stay that way for the next twenty-five years!
On top of that, the interest on your loan could also be tax deductible. The financial benefits of installing solar panels can be huge. If you’re interested in more information on that, reach out to Horizon Solar Power today to speak with an expert!
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 — 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.
And there’s no upfront investment required. We’ll install the panels at no charge, you’ll just pay a low monthly electric bill.
Solar Power Pricing
Solar power pricing isn’t the same for every household. Your solar pricing is determined by several behavioral and physical characteristics of your home, including how much power you want and need–in other words, your electric use behaviors.
It depends on how much do you use or don’t use electricity in your home, and your home’s physical characteristics–for example, how well will your rooflines generate solar? Rooflines facing optimal sun direction will need less equipment, thus better prices for the power your home requires.
Solar panels free from shade will also require less solar equipment. Shaded examples include tall trees near a home, tall chimneys, close proximity to mountain ranges/hillsides, and even second-story homes shading the 1st story.
The total hours of daily sunshine on your solar panels will impact solar pricing.
Other things to consider: if you have a 3-bedroom, 2 bathroom home with an average monthly energy bill, you probably would not need a large solar system. If you use your air conditioner more than most, have an electric car, have a home with a pool, or a larger home than the norm, your home would require a larger solar system.
Just remember: with Horizon Solar, we’ll customize your solution to your exact home’s needs to save you the most money versus paying the utility’s rising rates. Our prices save you money now, AND significantly more money over time.
Solar Power Financial Benefits for the Long Run
Installing solar panels onto your home will be a lifetime ROI. In addition to saving on the monthly cost of electricity, you naturally increase the value of your home. Many buyers are willing to pay an additional $15,000 or so for the addition of solar panels. Also, homes with solar panels usually sell faster than those without.
Not every solar system pays off equally for every family, though. That’s why Horizon Solar Power custom designs each system to ensure that you pay less money, not more with your home solar power. We avoid cookie-cutter solutions, because there’s no such thing as a cookie-cutter family.
Our experts will happily make sure you get the right size solar system and pay the right monthly payment to save you money month over month, year over year.
And, like gasoline, energy prices only ever go up — but with Horizon Solar, we can get your lowest price of today locked in for the next 25 years. The more time passes, the more you save.
Best of all, if you install solar panels before December 31st, 2019, you may be eligible for a federal tax rebate of 30% of the total cost of your system.
Any way you look at it, there’s no good reason not to switch to solar power!
Contact Horizon Solar Power For Next Steps
Now that you know your options like taking out a loan, or obtaining a solar PPA, there’s no better time to get started! If you decide to get a solar PPA from Horizon Solar Power, we will be responsible for your home’s solar power lifespan, and even install and maintain your solar panels for you.
Contact Horizon Solar Power today to work out the best solar power financing options for you!