What Are My Payment Options?
PLAN IT SOLAR offers a range solar financing options to suit nearly any budget. PLAN IT SOLAR can show you exactly what your options are and the advantages of each. There are generally two types of options:
Solar Service Agreement
Investing in solar can happen with no money out of pocket. Using a solar service agreement gives you a low, fixed rate on electricity for 25 years. No money needed to install, and maintain a solar system at your home. You just pay for the power you use, at less than you are paying for your utility now. You will have a consistently low energy bill with a solar service agreement and no maintenance requirements.
Purchasing a Solar System
Purchasing and owning a system typically provides the best long-term savings. You’ll own the solar panels, the power they produce, and the rebates and incentives they qualify for. Solar panels last a long time – most are warranted for 25 years – so they provide many years of free electricity after the system is paid for.
What are the benefits of a Solar Service Agreement
- Instant savings with a lower electricity bill
- Lock in your electric rate for the next 25 years
- Can be $0 down
- No maintenance cost for your solar system
- Does not increase the family budget. It lowers the family budget
When does a purchase make sense?
- Receive the federal “Investment Tax Credit” 30 percent until December 2016
- Get a high return on a safe investment
- Enjoy years of free electricity after the system has paid itself off with monthly savings
What Does a Service Agreement Cost?
There are two ways to use solar as an inexpensive monthly service through a service agreement:
- Prepay – Pay a portion of the agreement upfront to secure a lower electric rate and reduce your monthly payment.
- Low or $0 upfront* – Homeowners with adequate credit can get solar panels installed for as little as $0 and start saving money immediately.
What is the Cost to Purchase?
There are two ways to purchase a solar system and receive the highest return on investment
Pay cash – Avoid financing charges to pay the lowest possible amount for a home solar panel system. A solar system the costs $ 25,000.00 may offset nearly $3,000 in utility costs making the ROI greater than 10%, which is generally higher than the average investment vehicle and has nearly zero risk.
Finance – Qualify for a home equity loan or line of credit through your bank.