After 30 years designing, installing and finding ways to finance solar electrical systems for our residential customers, we've come up with three different options to help you profit from the power of the sun. We have done a detailed financial study on the three options below, and we've rated them Good, Better and Best depending on how beneficial they are to you.
20-YEAR LEASE - A 5.15kW solar system produces an estimated 8,746 kWh per year for big savings on your electric bill. You pay $0 Down and $174 monthly. Solar Electrical Financing owns the solar system and you get a guaranteed 10% monthly savings.
10-Year Pre-Pay Lease - Make an upfront payment of $13,021 and then no monthly payments. Solar Electrical Financing owns the system while you save an estimated $217 monthly on your electric bill. After 10 years, you pay $3,000 and own the solar system.
Solar System Purchase - Thanks to generous solar rebates and tax credits, a 5.15kW solar system costs only $27,156 and will reduce your electric bill up to $255 per month. You are eligible for an additional 30% tax credit of $8609, bringing your solar power system final cost down to only $18,543 for a 6-year payback. Then, you enjoy free electricity for decades. Plus, you increase the value of your home, but not your property tax, because solar power systems are property tax exempt.
*We are not financial advisors. For professional tax advice, please consult your CPA or tax attorney.