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Cash Purchase
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Paying for your clean-energy system in full is quite possibly the best option for everyone simply because it's the most simplified & quickest way to finalize your clean-energy project. You don't have to worry about making any payments plus you'll lock in all benefits and energy your clean-system generates.
POWER PURCHASE AGREEMENT
A power purchase agreement (PPA) is a financial agreement where a solar company arranges for the design, permitting, financing and installation of a solar system on a client’s home or business, typically at no cost. The developer sells the power generated to the host customer at a fixed rate that is typically lower than the local utility’s retail rate. PPAs typically range from 10 to 25 years and the solar company is responsible for the operation and maintenance of the system for the duration of the agreement. At the end of the PPA, a customer may be able to extend the PPA, have the developer remove the system or choose to buy the system outright.
SOLAR LOAN
​A solar loan works essentially the same way as any other loan. There is a principal amount, an annual interest rate and monthly payments. These loan payments take the place of your utility bill, and are usually at a much lower cost. Unlike a PPA, you will actually own the system with a solar loan. You will receive the 30% Federal Tax Credit and loans usually have a zero-down option. If purchasing cash is not in your budget a solar loan is typically the next best return on investment!
HERO (PACE) FINANCING
Property Accessed Clean Energy (PACE) is a very common way to finance clean energy upgrades for homeowners. HERO is the #1 energy efficiency financing program in the United States. HERO partners with local governments to make energy efficient, water efficient, and renewable energy products more affordable for homeowners. HERO does not require a credit score to qualify and is based off of equity in your home, not credit.
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