13 Oct How to Pay for Your Efficient Energy System from Light Solar
If you’re about to invest in an efficient energy system, you may consider different options that are available to finance the investment.
Obviously, one way of paying for the investment is to rely upon savings. An outright purchase of the equipment and installation may make the most sense. Such an investment will entitle the owner to take advantage of some favorable financial incentives. Consult with our team at Light Solar to learn more about financial incentives that are available in your district. You may also want to consult your tax professional because the federal government offers attractive tax credits that may apply to you.
If writing a check for the investment doesn’t appeal to you, then consider working with an approved financial partner of Light Solar. Financial institutions recognize that an investment in a solar energy system offers some amazing benefits. Since an efficient energy system will bring immediate savings by lowering or eliminating electricity expenses, financial institutions happily lend resources to make the investment.
Our team of specialists will work with you to do a cost-benefit analysis. Sure, there will be some costs associated with purchasing an efficient solar energy system. When a financial institution lends money to finance an energy system, the lender will require monthly payments. Yet those monthly payments will likely be less than what the owner was paying in electricity costs-which were a total waste. Further, the owner of the new energy system may get additional benefits from rebates and tax incentives that our specialists can explain.
If a loan doesn’t make sense, consider leasing the equipment. Leasing provides another financing option that may make sense. Solar leases and power purchase agreements (PPAs) are similar to renting a solar energy system. Such financing terms provide many of the financial benefits of installing a solar system without having to pay the costs of the investment.
With a lease, or a power purchase agreement, consumers contract with a third-party owner (TPO). The TPO will install the solar panels on the property. In exchange, the consumer agrees to pay a below-market rate to use the solar electricity for the term of the agreement.
Our team at Light Solar can help you understand which financing option would work best for you.
Contact Light Solar for a free consultation on how to finance an efficient energy system:
Call 1-800-408-6046 today