SENERGY

LEASE & FINANCE OPTIONS

OPTIONS FOR SOLAR PANEL LEASE OR FINANCING

How to Know Which Is Best for You

There are a few different options as far as funding goes for your new system. First you need to consider how much you are willing to spend and what your power consumption is on average. Also, the length of your home ownership and your tax situation are important variables for consideration. This will help you choose the best funding options for your PV panel system. Most of the options fall into the category of upfront cost vs. deferred payments.

 
CASH PURCHASE

If you plan on owning your home for more than a few years, and your tax situation allows you to take advantage of the 30% Federal Tax Credit and any applicable state tax incentives, then a cash purchase is probably right for you. However, many either do not qualify for the tax credit or do not have the money to invest up front, so whether or not you choose this option will depend on your circumstances.

$0 DOWN FINANCING

This is a great option for people who do not have the money to invest upfront but qualify for the tax credit. While the monthly payments may be a little higher than a loan with money down, don’t forget that you will be saving money right from the first month on your electric bill, so many find this option appealing. You may also get a tax exemption on the interest which is another thing that makes this option a popular choice.

PREPAID LEASE

If you have the money to invest but are not in a position to take advantage of the Federal tax credit, a pre-paid lease is another viable option. Basically, you pay a sum upfront which is generally slightly lower than purchasing a PV system outright. However, since everything is paid upfront, there is not a monthly fee associated with this option.

$0 DOWN LEASE

This is an option for someone who likes the idea of a prepaid lease but does not have the money available on hand. Again, this would be applicable to someone who is not able to take advantage of the Federal tax credit, utility rebates, or other state incentives. Through this sort of financing option, you would be able to have a PV system installed for as little as $0 down, even though you do not own it. You would then have a monthly lease bill. Once again, your savings in utilities may offset much or all of this monthly payment. This is the most popular option because you get the benefits of Solar and you're able to save a good amount and avoid high energy prices today and in the future.