There’s no question that solar installation is a major
investment for your home or commercial facility. The price tag for installation
is costly, leading you to believe it isn’t affordable. If you are interested in
installing solar panels for the benefits and energy savings they provide, don’t
let the upfront installation costs stand in your way. There are financing
options available which allow you to reduce the upfront costs of solar
installation, such as solar leases and power purchase agreements (PPA).
Solar leases for your solar installation
Solar leases eliminate the high installation costs for your
solar panels and other equipment. Instead, you’ll pay a fixed amount each month
to cover the solar installation and use the energy produced. Your panels will
be owned by the lease provider, and they will maintain them as well. Solar
leases provide a way for you to lock in low rates for electric solar power for
years, a benefit you won’t receive from your current electric utility provider.
Power purchase agreements for your solar installation
A power purchase agreement (PPA) allows you to pay only for
the electricity generated and used. Your PPA provider owns the solar panels and
other equipment, and will cover the solar installation for your home or
business. They’ll maintain the equipment for a specified length of time, so you
won’t have to worry about maintenance or repairs. You pay no installation
costs, just a fixed rate for the electricity produced.
The right option for your solar installation
When considering solar leases or a PPA for your solar
installation, which programs available to you are determined by your location.
Each offer similar benefits which can make solar power affordable for your home
or business use.
Benefits of financing your solar installation
When you choose a solar lease of PPA in lieu of paying for
your solar installation upfront, there are additional benefits you’ll receive
besides saving money in the beginning. With these financing options, a third
party owns and maintains your equipment, which can save you thousands over the
lifetime of your system. Depending on where you live, permits and inspection
fees increase the price of installation, which is avoided with these solar
installation financing options.
If you’d like to learn more about how you can take advantage
of solar power for your home or business with no upfront costs, contact Smith
Sustainable Design. We’ll assist you with financing options which can make
solar installation fit your budget.
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