Solar Installation Financing Now Available
Solar contractors work to install PV in Boulder. Photo Credit: BigGreenBoulder
Solar Saver, a Boulder, Colorado solar company founded in 2006, is offering solar installation financing to customers of Lighthouse Solar. The financing puts the price of the energy at or below standard utility rates, with an average savings of 20 percent. Solar Saver estimates a 4.31-kW system is worth $22,295 in its market area, and that's a lot to chew even with a 30-percent federal tax credit.
Solar Saver offers two plans. The first is "pay as you go" and the other is a lease agreement with a fixed monthly payment over the term of the lease. The PPA, or Power Purchase Agreement, allows customers to only pay for the actual energy produced by the solar array, hence "pay as you go." The PPA is reportedly the best deal for total savings over the term of the agreement. The Solar Saver Lease Option also offers nearly equivalent savings of around 20 percent less than standard utility rates.
The upfront cost of the installation can sour even a hearty stomach. Since the ugly number is removed when choosing a lease option from any program like this (also offered elsewhere in the country), the consumer gets a break on the price and therefore enjoys the benefits of the reduced cost immediately. Of course, leasing panels means you'll never own the panels. Because of this, you would not receive the benefits of real improvements, which often correlate with improved resale value or free electricity once your system is paid off. For more information on whether to lease or own, check out the post by CalFinder's Dan Harding.
Source: RenewableEnergyWorld.com
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