Solar Financing Solutions For Your Commercial And Residential Solar Needs.
Once you're sold on the idea of solar power, the biggest hurdle is typically financing. A $10,000-$15,000 up front purchase price can be a little difficult to swallow, particularly when many Americans are in a situation where they have very little, if any, equity in their homes. The way to think about financing your solar power system is that it's an investment that will ultimately save you money. Consider that the average electricity bill for a home is over $100. This mean that if you transition to solar power, your system will pay itself off in roughly 8 years. Couple this with SREC sales, which can be as much as $600/month and that number drops to as little as a year and half. Install a large system that provides more energy than you need, and in some situations, you can sell that additional power to the utility, meaning that your system could be profitable within a year or two.
Now, that's all well and good, but you still have to take the first step of actually purchasing and installing the system. Fortunately there are plenty of good financing options available for solar power systems. Energy efficiency mortgages are one example of low interest loans designed for homeowners doing energy efficient upgrades to their homes. These are typically 10-year-term loans, which means that your loan repayment will be about the same as your current electricity bill.
Alternately, if you're not interested in owning the system outright, many companies now offer solar leases where 100% of the purchase price of the system is covered by the lease. The way this works is they look at your current electricity bill and then set your lease payment to the same amount or lower in some cases. You don't save much money, typically with this option, but it gets you into a solar power system with no net cost to you and could save you some money year to year.
For more in-depth details, please review our comprehensive list of solar financing options below:
For owners of SMB's and large businesses, an option you may not have considered, but that can reduce your energy bills and possibly provide additional revenue is a Solar Power Purchase Agreement (or SPPA). SPPA's can be customized for various different types of property, including long-term leased property, and depending on your situation, may even be applicable for certain types of residential property.
Go Solar On The Cheap: How Solar Leasing Can Get You Into A Free Solar Power System
Learn about Solar Home Equity Loans and how Solar Home Equity Loans can help finance your solar system.
Learn about SRECs: Solar Renewable Energy Credits and how SRECs: Solar Renewable Energy Credits can help finance your solar system.
PACE (which stands for Property Assessed Clean Energy) is a government program that takes the cost of a solar energy system and installation and rolls that cost into your property taxes for the next 20 years. Learn how PACE can help finance your solar system.
P2P lending is essentially a loan where instead of a bank, there are a group of tens, if not hundreds of lenders all contributing small amounts to add up to the requested amount. A middleman broker (usually a web site) will allow users to request money or loan money through the site and will generally post the anticipated rate of return for the lender.
FIT is essentially a program whereby the government or utility running the program (the California Public Utilities Commission in California for example) guarantees the purchase of excess energy generated by the, in this case, solar panels tied into the grid. The result is people with solar energy systems, generating more power than they use, can sell back this excess power to offset their investment, or in some cases, to earn money from the solar power system.
Affordable Alternative Energy is a Colorado locally owned company specializing in Solar Energy Consulting, Solar Energy System Installation and Project Management. We work primarily in Boulder County, Boulder City, Louisville, Broomfield and Denver.
Bell Solar Electric was founded by Jeff Bell and Tim Karinen. We are a State of California fully-licensed electrical contractor (License No: 935457), as well as NABCEP certified. We specialize in sales, design, engineering, project management, installation, monitoring and maintenance of custom solar-electric systems.
Borrego Solar offers a complete range of solar energy services to commercial and public sector customers across the United States.Backed by more than 30 years of industry experience and a dedicated research team, we handle every aspect of solar power installations - including financing, technology evaluation, engineering and design, construction, monitoring, and ongoing maintenance and support—to ensure the most efficient and reliable solution.
Brightergy is a privately held company, formed through the acquisition of certain assets from The Energy Savings Store, formed in 2003, and is now the Midwest's largest solar integrator. We offer design and installation services for solar electric, solar heat, and solar hot water. Our team has decades of industry experience in solar energy system design and installation, electrical and structural engineering, and solar project financing. We aim to set new standards for solar integrators by offering the highest level of customer service while providing turnkey engineering, procurement, and construction services.
Geoscape Solar was established in 2008 which, believe it or not, is relatively old for a solar business in New Jersey. And unlike many other solar companies, we weren’t a HVAC, roofer, or contractor who thought they could make a little extra money by jumping on the solar band wagon. Geoscape Solar was created from the ground up to be one thing... a great solar installation company.
Green Solar Finance is the premier provider of renewable energy finance and strategic advisory in the U.S. with over $750 million in solar financing and in excess of 1 billion MW’s of utility grade power projects implemented to date. We make renewable power projects work by delivering proven operational, risk management, tax and finance expertise across an extensive generation development and investment network in utility grade and distributed power.
Mercury Solar Systems is one of the leading integrators of solar energy services on the East Coast. We have completed over 1,000 solar installations of varying complexity for our commercial, non-profit and residential customer base. Since our founding in 2006, we have set out to redefine the role of solar companies by offering the highest level of customer service in the industry while providing turnkey engineering, procurement and construction services to meet their individual solar energy needs.
NexGen Construction Services, Inc. is a fully-licensed, complete contracting service. We specialize in the design build of solar photovoltaic systems. We are dedicated to facilitating the implementation of solar technologies for commercial and residential customer who is seeking the benefits of renewable energy production.
Solar Connections, LLC has been an independantly owned and operated commercial and residential solar installer in New Jersey since 2007. Our experienced solar specialists can help you lower your energy bills and even earn money with a new photovoltaic (PV) solar energy system. We handle each project from start to finish and work with leading industry vendors to ensure high quality every step of the way. We proudly stand behind our work with a five-year warranty.
Solar Pro offers comprehensive renewable energy solutions for residential and commercial customers. Our staff of solar professionals and certified installers provide professional site assessment, custom installation and on Solar Pro’s solar power installations improve energy efficiency, lower electric bills and increase the value of your home or business.
Solar Technologies is the number one resource for renewable energy solutions. Our experienced team of knowledgeable experts has been providing solar energy systems since 1970. All of our systems rigorously adhere to the National Electrical Code, resulting in a safe and long-lasting installation.
SolarCity is the nation's leading full-service solar provider for homeowners, businesses and government organizations—the first company to provide solar power system design, financing, installation and monitoring services from a single source. We understand that the environmental impact of energy production is one of the greatest challenges that our planet will face in the near future, and are committed to doing our part to alleviate this impact.
Solare Energy provides residential, commercial, government, and non-profit customers in San Diego County with smart energy solutions that integrate solar and energy efficiency systems, and provide the highest energy, economical, and environmental benefits to customers.
From our highly trained Energy Consultants to our friendly installers, SolarMax Technology offers each customer a personal experience from start to finish. Our goal is to deliver affordable, high quality solar energy systems. SolarMax Technology is an Authorized SunPower Dealer, Exclusive Distributor of high efficiecy CSUN Solar Modules, and Part of BP Solar's Certified Installer Partners. SolarMax is also the Authorized Home Depot Solar installer and Provider.
Get home solar power service for as low as $0 down with SunRun. Simply pay a low monthly bill for your home solar electricity.SunRun lets you go solar for as low as $0 and takes complete care of your system. With over 10,000 customers, SunRun is the nation’s leading home solar company and partners with only the best local solar installers.