Solar Financing Options: Making Solar Affordable

Explore the wide array of solar financing options available today, each designed to cater to different financial situations and preferences. From solar leasing and Power Purchase Agreements (PPAs) to solar loans and outright purchases, these options provide flexibility and accessibility, ensuring that solar energy can be made affordable for everyone. By understanding these diverse financing methods, homeowners can find a solution that aligns with their budget and energy goals. When going solar, renewable energy is both feasible and financially advantageous.

Understanding Solar Leasing vs. Buying

When considering solar energy for your home, understanding the difference between leasing and buying is crucial. Buying solar panels involves a significant upfront cost, but it grants you full ownership of the system and allows you to benefit from tax incentives and rebates. On the other hand, leasing solar panels means you pay a monthly fee to use the system, typically with no upfront cost. The leasing company, such as PosiGen, owns the panels and takes care of maintenance and repairs.

While buying can be more beneficial in the long run due to eventual energy savings and incentives, leasing is an attractive option for those who want immediate savings* without the large initial investment. Both options have their own advantages and can be tailored to fit different financial situations.

Want to learn more about solar leasing? Read How Leasing Solar from PosiGen Works, Solar Options: Leasing & Buying Compared, and The ABCs of Solar: Leasing Solar Panels for a Lesson in Energy Savings from our blog.

*Savings vary depending on environmental factors, size, and occupancy of household.

No Upfront Costs: The Benefits of Solar Leasing

One of the most significant benefits of solar leasing is the absence of upfront costs. This makes solar energy accessible to more homeowners who might not have the capital to purchase a solar system outright. With leasing, you can start saving* on your energy bills from day one without any financial burden.

Leasing agreements often include maintenance and repair services, ensuring that your system runs efficiently without additional costs. This hassle-free approach allows you to enjoy the benefits of solar energy without worrying about unexpected expenses or complex system upkeep.

Our Understanding the Cost Benefits of Solar: Is It Worth It for My Home? blog is a great resource.

*Savings vary depending on your energy consumption, system cost, home location and characteristics, and your utility’s policies.

Dispelling Common Myths About Solar Affordability

Many myths surround the affordability of solar energy, one of the most common being that solar is only for the wealthy. In reality, solar leasing has made it possible for a wider range of homeowners to access clean energy without a significant financial commitment. The monthly leasing fees are often lower than traditional energy bills, leading to immediate savings*.

Another misconception is that solar panels are too expensive to install. While the initial cost of purchasing a system can be high, financing options like leasing, loans, and Power Purchase Agreements (PPAs) have significantly lowered the barrier to entry. These options allow homeowners to reap the benefits of solar energy without the hefty upfront costs.

*Savings vary depending on environmental factors, size, and occupancy of household.

How Much Does Home Solar Really Cost?

The cost of home solar systems varies based on factors such as location, system size, and energy needs. On average, a residential solar system can cost between $15,000 and $25,000 before tax incentives and rebates. However, these incentives can significantly reduce the overall cost, sometimes by as much as 30% or more. (Sistine Solar) (energy.gov)

Leasing provides an alternative by eliminating the upfront cost altogether. Instead, homeowners pay a fixed monthly fee, which is often lower than their previous utility bills. This makes solar energy more accessible and budget-friendly for many households.

Is Solar Energy Truly Affordable?

Yes, solar energy is truly affordable, especially with the various financing options available today. Solar leasing, in particular, has revolutionized the market by making it possible for homeowners to go solar without a large initial investment. With no upfront costs and predictable monthly payments, solar leasing is an excellent option for those looking to reduce their energy expenses.

Furthermore, PosiGen guarantees savings for the first year of the lease*. Going solar is a wise financial investment, with benefits ranging from reduced utility bills to potential home value increases. As technology advances and more financing options become available, the affordability of solar energy continues to improve, making it a viable option for an increasing number of homeowners.

Want to learn more? Read our Solar Lease vs Power Purchase Agreement (PPA): What’s the Difference? and How Does Solar Energy Save Money? blogs.

*During the first 12 months after the date your system is operational, we guarantee that your post-solar electricity costs will be less than your pre-solar electricity costs. If your post-solar electricity costs are greater than your pre-solar electricity costs during that 12-month period, PosiGen will either (1) provide a bill credit representing the difference between your pre-solar and post-solar electricity costs, or (2) provide additional energy efficiency services at no cost. See Residential Solar System Lease Agreement for full terms & conditions.