How to Pay for Residential Solar Power Installation
Filed under: Solar Installation
Do you love the idea of going solar, but you are worried about the cost of the materials and installation? A quality solar electric system can cost thousands of dollars, but you don’t need to have the money in the bank to take advantage of the opportunities that are available.
If you are preparing for this home upgrade, you can save your money to ensure that you can pay for the cost of the system in the future. Or, you could consider 0 down, 12 year financing options, so that you can have a solar power system as soon as possible.
Why You Shouldn’t Delay Solar Installation
Consider the money that will be lost if you delay the solar installation. Not only will you waste your money paying high electric bills each month, but you will remain on the lifetime payment plan with your utility company.
In comparison, you can put that same money towards the monthly payment on a solar power system. In many situations, these monthly payments are less expensive than regular utility bills. So, your monthly electricity costs could go down immediately. You will pay down the balance on the financing for 12 years, eventually paying the system off in full. The solar panels have a manufacturer warranty for 25 years, so you will be enjoying free electricity for many years after your system is paid for.
Cash or Financing?
Of course, you can pay cash for the solar installation if you have the money available, but don’t assume that you need to save up the money, before you have a solar system installed. Most people can access the financing that is needed to pay for the solar system.
Another option is to lease a solar system, but we often discourage customers from leasing the equipment. When you lease a solar system, you will not own the equipment and most of the leases out there are for 20 years instead of 12, which will usually cost more money.
If you are considering a residential solar installation, our team at New Day Solar, would be happy to discuss solar options with you. We have 30 years of expertise and will give you honest answers to your solar questions. Give a call for a no obligation quote at: (855) 444-6329 or visit our website at: www.newdaysolar.com.
