Solar Financing Options that Fit your Business and Lifestyle
Financing options have rapidly improved! There are now multiple ways to structure your energy project:
Cash Purchase, Traditional Financing, Leases, PPA’s, PACE are all options we can explore together.
PACE Financing Explained
With PACE or HERO the homeowner contracts directly with a solar contractor to furnish all material required for the solar system.
PPA Lease Explained
A solar Power Purchase Agreement is similar to a lease in that you are contracting with a 3rd party leasing institution that owns the system.
Ygrene PACE Financing
We partner with multiple financing professionals to help your energy solution become a reality with terms that fit your business needs.
These are Just a Few of the Financing Partners We Recommend
When you consider Solar Financing you should ask yourself:
Want to own the equipment and pay cash for the solar project?
Would you rather pay NO upfront cash and let a 3rd party own the equipment?
Want the cost of your solar PV system added to your property tax bill?
All options provide value and have pros and cons. Best to speak to us in person!
The Investment Tax Credit (ITC) plus Depreciation (MACRS)
can reduce your solar system cost by more than 60%
Questions About Financing? Call 760.637.4343
Currently, a tremendous 30% Federal Tax Incentive exists
but it is imperative to take advantage of the ITC now!
With PACE or HERO the homeowner contracts directly with a solar contractor to furnish all material required for the solar system. All other terms and conditions mimic a cash purchase, but the money required to pay for the system is sourced through an outside financing agency such as a bank, or local government finance program such. There are multiple financial institutions with custom solar finance programs to assist in the purchase of a solar system.
PPA LEASE Financing
A solar PPA is similar to a lease in that you are contracting with a 3rd party that owns the system and is responsible for the equipment for the life of the term, but there is one key difference. In a solar PPA, you are agreeing to a rate/kWh at which you will buy the power from the system. Instead of a pre-established amount of power, and a fixed payment, you are agreeing to buy all of the power out of the system each month at a defined and contractual rate.
LINE OF CREDIT
Your current banking institution is a good place to start for a home equity line of credit. Having an established relationship with your current bank can make the process simpler however rates may vary and having multiple quotes is the best way to guarantee you are getting the best terms and conditions. Traditional financing also allows for more flexibility if you also are financing other home improvements such as a remodel or addition to your home.