Let’s face it: Installing solar panels is a high-tech improvement in our homes. It certainly doesn’t sound or look cheap, but the truth is it may be far more affordable than many homeowners think. As long as the units are well maintained and you get services like solar inverter repair as and when it’s needed, the installation will be the most expensive part and you’ll quickly see the money come back just from the savings you’ll make.
We asked the experts at AM Sun Solar to answer four common questions about financing a solar panel installation on a residence.
I’ve heard solar is expensive, how much does the average system cost?
The size and cost of each solar system is different. Our solar energy consultants factor in how much energy (kWhs) you use and whether or not you want to be connected to PG&E or go off the grid. We will sit down with you and your utility bills to determine how the right sized system for you. From there our solar consultants will determine how many panels are necessary to power your home or business. The cost of the system depends on the number of panels your home requires and where they are mounted.
Can I put no money down and own my system?
Yes! Your solar system will pay for itself over the years but in the meantime, you have many options when it comes to the initial cost. You can pay cash (with $0 down), finance or lease your system. Let our solar consultant help you find the right fit for you and your family.
What if I can’t afford to purchase a system?
You can finance or lease your system. We have options for solar leases, loans and other financing programs. If you’re worried about your credit in relation to these options then you can learn how to establish credit here.
If I purchase my solar, how does that work with taxes?
There is federal tax incentive of 30% that makes going solar even more appealing. Please note this incentive will expire December 31st, 2016. Our solar consultants or your tax professional can help walk you through this process.