Top-of-mind for many considering a solar energy system is cost. With many incentives and special financing programs offered through local financial institutions, it is easier than ever to go solar. Many factors go into the cost of a system, which is why speaking with an A1A Solar specialist should be your first step. With an assessment of your home or business and energy consumption, we can propose a system that meets your wants and needs with a maximum return on investment.
Residential Solar Financing
Financing a solar installation can make it easy to start saving money without delay or any up-front costs. We have several financing options, both secured and unsecured programs, with terms from 12 months up to 20 years. As solar power systems have an expected life cycle of 30 to 40 years of benefits, it can make financial sense to spread the initial cost over time. In many cases your monthly savings can match or exceed the loan payment for immediate positive cash flow.
For new construction or new home buyers, it makes perfect sense to finance a solar system with a 30 year mortgage, as this typically makes a strong positive cash flow scenario.
Financial Incentives and Resources
With current solar incentives, the initial solar investment cost is drastically reduced, accelerating return-on-investment and payback scenarios. These generous local/state rebates and federal tax credits make it a great time to invest in solar.
Until recently, the cost of installed solar power systems required some kind of financial incentive to make the economics work. Now we have found that even not-for-profit entities (which cannot use IRS tax credits) have favorable economics to purchase solar systems, depending on electric rates and system size.
Federal Tax Incentives
