Making Solar Energy Affordable with Loans and Leases
If you have held off on installing home solar energy because of the cost, you should know that many reputable solar energy companies go out of their way to make these systems as affordable as possible. People who work at these companies know that the technology is still new, and they want to attract new customers. Plus, most of us who work with solar power are very excited about supplying clean and renewable power, so we work hard to introduce as many new people to the idea as possible
Of course, home solar systems may also be more attractive after you research options for tax credits and rebates in your local area. These tax rules tend to change all of the time, so it is important to research them when you intend to buy.
Here’s what many solar energy companies do to help home owners get solar power:
- Loans: Most companies offer a variety of different financing options, and some of these may include a 12 months same as cash option. Typically, you can get approved for credit on the spot or over the phone.
- Leases: Many good companies offer a $0 down payment lease option. Very often, leases include maintenance, insurance, and even a friendly buy out option.
- Other financing: Some home owners can pay cash, but others get good deals when they take out a home equity loan or get financing from other source.
Which Option is Right for You?
If you are very unsure about solar power, you might check out a lease option. Some of these even come with guarantees that your leased system will perform the way it was advertised and cash back payments if it does not. Since these leases may include a buy out option at a later date, they are pretty flexible.