This all sounds wonderful. Now how do I pay for a solar electric system?
Financing is obviously a vital concern because while solar's long-term savings are impressive, you can't realize them if you can't pay for the system now. Fortunately, many financing options are available, and grants and tax credits can help to offset much of the cost.
Your best option, if it's possible, is to pay cash and to take immediate and complete ownership of the system. And since savings accounts are paying just about the same interest rate as your mattress is right now, solar offers a much better Return on Investment (ROI) than any sort of savings account.
Even if you don't have the necessary cash on hand, many financing options are available. You may qualify for a home improvement loan or a home equity loan to pay for your system, and one American bank has taken the lead in providing solar financing. Admirals Bank, headquartered in Boston, Massachusetts, offers a wide array of solar financing programs, including The FastTrack and FastTrack Deferred loan programs. These arrangements make it possible for most homeowners to finance a solar energy system, so contact Trifecta to learn how simple and affordable bringing solar power to your home can be, and for help in identifying sources of financing.
You may have heard about 2 other ways to bring solar to you property, but neither is nearly as beneficial for the home or business owner as purchasing a system. Some homeowners and business owners are choosing to lease a system or to enter into a Power Purchase Agreement (PPA), but in both of those situations, you become a renter instead of an owner. When you are an owner, you can take full advantage of all the available financial incentives, including the 30% federal tax credit, which is worth thousands of dollars.
The bottom line is that leases and PPAs are good deals for the leasing company, but often not for the home or business owner. Many programs and incentives can help you Go Solar, and the team at Trifecta will be happy to show you those programs and explain them to you in complete detail.