Lower electric bills. Major tax incentives. Huge ROI.
With all the benefits and advantages of renewable energy, it’s hard to argue against it. Still, one of the main questions we receive is…how much does it really cost to go solar?
Ask our customers and they’ll tell you, going solar is often less than you think.
When it comes to financing your solar PV (photovoltaic) system, you have options. You can choose to purchase the panels via loan or financing agreement, lease the panels or do a power purchase agreement, also known as a PPA.
Each option carries its own benefits and drawbacks and determines your upfront investment and future cost-savings. Don’t worry if you’re unsure which option is best suited for your situation. We’ll help you (link to contact us) select the most economical and beneficial program for your home.
Option #1: Purchasing Your System in Full
Purchasing your solar PV system provides you with the largest cost-savings and biggest bang for your buck. For homeowners who can afford the upfront investment, purchasing a system is the way to go.
- Maximum Federal Tax Benefits
- Maximum State/Local Tax Rebates, Incentives and Credits (Rhode Island & Massachusetts)
Option #2: Financing Your System
When it comes to financing your solar PV system, there are attractive loan options available, many that offer zero money down and reduced rates. We’ll help you figure out the best loan option and work with our partners (link to partners page) to ensure you obtain financing.
If reducing or eliminating your electric bill is your main motive for going solar, leasing panels might be the perfect option for you. While you won’t own your solar panels or receive tax benefits, you’ll enjoy significant cost savings on your utility bill every month.
Leasing your system offers…
- Zero money down
- Low monthly payments
- Routine maintenance at no cost to you
- Significant monthly savings
Power Purchase Agreement
Similar to a lease, a PPA allows you to rent your solar PV system through one of our financial partners (link to partners page). However, the main difference between a lease agreement and a power purchase agreement is in how your monthly payment is determined. Whereas a lease payment uses a fixed price for renting your panels, a PPA uses an agreed rate for the energy your panels produce each month.
Contact Rooftop Power today to find out what the best financing option is for you. (Link “today” to Contact Us page)