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The Most Common Methods of Payments when Going Solar
Residential solar energy systems are usually paid for in one of two means.- Either as an up front or “cash” payment
- or through a solar loan.
Both options protect against the certainty of future electricity rate increases. And both options allow you to take advantage of all the rebates and financial incentives, encouraging homeowners to make the switch to solar.
Solar Loan
Solar loans are a great option to own your residential solar system with $0 MONEY DOWN!
It is EASY to QUALIFY for a solar loan. With a minimum credit score of 620, the government wants to make it super simple for you to transition to clean solar energy!
Take advantage of the 30% rebate on your income taxes, and protection against future electricity rate increases, as soon as your system is installed and operating.
Solar loan payments are often considerably lower than what you are presently paying your local electric utility company.
If you can afford your skyrocketing monthly electricity bill, you can afford the stability of solar. Join the many Texas solar owners and report savings from the very first month your system begins producing power!
Cash Purchase
If you have the available funds, purchasing your residential solar system with “cash” can eliminate fees and/or interest associated with a solar loan. *Note, some companies may offer an additional discount for homeowners who choose the cash option.
The obvious consideration in opting for a cash purchase is that you will need to have the funds available to purchase the system. Some residential systems in Texas cost in excess of $20,000
Considerations for Paying Cash
- If funds are available to invest in solar
- You are able to benefit for the 30% tax rebate
- Want to receive maximum savings on solar investment
Considerations for Solar loans
- Zero Down, monthly payment, no large lump sum needed
- Eligible immediately for 30% tax rebate and incentives
- Protect yourself from rising energy costs