Residential Solar Financing Options in California

Residential Solar Financing Options in California 2017-04-05T17:04:07+00:00
San Diego Solar Financing Options

SOLAR FINANCING OPTIONS FOR CALIFORNIA RESIDENTS

Solar energy for your home is a great way to save money on your electricity costs. San Diego homeowners have a variety of ways to pay for these renewable energy systems. With so many options though, the question becomes which residential solar financing option is right for me?

cash purchase is your best value and the lowest cost per kilowatt-hour. Though, many homeowners are opting for a solar loan or lease-to-finance option. These options allow you to see immediate savings with nothing out-of-pocket. SolarTech offers a variety of residential solar financing options, including zero-down loans, no-hassle leases, and PACE programs like HERO and YGRENE. Regardless of your situation, we’ll help you achieve lower costs for energy.

WHICH OPTION IS BEST FOR YOU?

Solar Cash Purchase Financing Option

SOLAR ENERGY CASH PURCHASE

  • Pay for system up front. No recurring payments.
  • Best value! Lowest price for solar energy.
  • Eligible for 30% Solar Tax Credit.
  • System typically pays for itself in 5-7 years.
  • Home value increases by ~ $4/watt.
Residential Solar Financing in San Diego

ZERO-DOWN SOLAR FINANCING

  • Zero-down financed-to-own options available.
  • Lower monthly payment. Immediate savings.
  • Eligible for 30% Solar Tax Credit.
  • Unsecured loans, HELOC, and PACE programs.
  • Home value increases by ~ $4/watt.
Solar Leases in San Diego

SOLAR ENERGY LEASE / PPA

  • Zero-Down. Immediate cash flow savings.
  • Lock-in a low rate for power for up to 20 years.
  • Option to buy the system after contract expires.
  • Save 20%-40% on your electricity costs.
  • No maintenance hassle or warranty worries.
Questions About Financing Options? Request A Free Solar Quote.

MORE RESIDENTIAL SOLAR FINANCING OPTIONS

CASH PURCHASE

Paying for your solar energy system installation up front has several advantages, including the best price per kilowatt-hour for electricity produced by your solar panels. You’ll skip the financing costs associated with a loan and you’ll be eligible to take the 30% federal tax credit. While solar panels are warrantied for 25 years, systems can continue to generate power for 40+ years, giving you extra savings when you own the system.

SDMCU SOLAR LOAN

San Diego Metropolitan Credit Union offers a solar specific loan for residential solar panel systems. Rates vary from 1.89%-7.99% for loans up to 20 years. This allows you to go solar with nothing out-of-pocket, and you’ll still be eligible to take the 30% tax credit.

PACE PROGRAMS

Several Property Assessed Clean Energy (PACE) options are available for solar panel installations in San Diego. HERO, YGRENE, and California First offer residential solar financing through your property taxes, in partnership with the city or county (available for most San Diego area residents). By adding this voluntary line item to your tax bill, you can go solar with zero-down, save on electricity, and increase the value of your home. You may also be able claim additional tax deductions (consult your tax professional).

SUNPOWER LOAN

SunPower offers very competitive residential solar financing options for projects using the best solar equipment available. With 10 or 20 year terms, homeowners can get 2.99%-4.99% financing on the industry’s most efficient panels, including SunPower’s all-in-one solar solution, the Equinox solar system.

12 MONTHS SAME AS CASH

Green Sky financing offers an unsecured 12 month no-interest loan which is a great way to finance all or part of your solar panel installation. Some customers use this to finance the 30% tax credit portion of their installation costs.

LEASING & POWER PURCHASE AGREEMENTS

SUNPOWER SOLAR LEASE

For customers looking to lower their energy costs without purchasing a solar panel system, SunPower offers a great lease that allows customers to save about 40% on their electricity while using the most efficient solar panels available. This 20-year no-hassle lease gives you worry-free power at about 16¢-18¢ per kilowatt-hour.

POWER PURCHASE AGREEMENT

PPAs are a straightforward option to buy power from another provider at substantially lower costs. SolarTech installs the solar energy system on your home — which is owned by the financing company — and you agree to purchase all power that the system produces (typically for a 20-year period). PPA plans are available with or without an annual escalator, and can save you about 20%-40% on your electricity costs.

See How Much You Could Be Saving! Request A Free Solar Quote.