Incredible Mag

Financing Options Offered By Solar Installers

<p style&equals;"text-align&colon; justify">The concept of solar energy appeals to a lot of home and business owners who are interested in saving money and reducing their carbon footprint at the same time&period; However&comma; the major setback for a lot of people is usually the initial cost of getting set up&period; Even with the return on investment being substantial&comma; having all of the money upfront for installation expenses is challenging for most&period; Fortunately&comma; solar installers have taken note of this and many have begun offering financing options to assist with costs&period; There are several plans to choose from&comma; helpful for those looking for just the right one to suit their specific situation&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Leasing<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Chances are&comma; you&&num;8217&semi;re familiar with the terms of leasing a car&comma; so you can relate that knowledge to the idea of leasing solar equipment since it&&num;8217&semi;s much the same&period; Property owners that decide to lease solar equipment won&&num;8217&semi;t be obligated to put much money down&comma; if any at all&comma; and will be able to make monthly payments that are lower than a typical electricity bill&period; Ownership and maintenance responsibilities of the equipment belong to the solar installation company&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Power Purchase Agreement<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">With a power purchase agreement&comma; property owners are still leasing the solar equipment&comma; but are paying a monthly fee based on the energy the system produces instead of a fixed payment as with a regular lease&period; Again&comma; this option offers no or minimal money down and the ownership and maintenance tasks remain with the solar company&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Home Equity Loan<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Choosing a home equity loan eliminates the third-party ownership and involves taking out a loan with a lender to pay for the solar system directly&period; These loans use the property as collateral but end up saving the borrower much more money in the long run&comma; and interest may be tax deductible&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; center"><img class&equals;"size-full wp-image-147 aligncenter" alt&equals;"Financing Options Offered By Solar Installers" src&equals;"http&colon;&sol;&sol;incrediblemag&period;com&sol;wp-content&sol;uploads&sol;2014&sol;04&sol;Financing-Options-Offered-By-Solar-Installers1&period;jpg" width&equals;"556" height&equals;"592" &sol;><&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Peer-to-Peer Lending<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Peer-to-peer lending is one of the newest financing options offered by solar installers&period; This will match up the property owner with a lender that specializes in managing a community of borrowers and lenders who can then obtain or give out personal loans&period; A property won&&num;8217&semi;t be used as collateral&comma; but interest rates could&comma; in turn&comma; be higher when going this route&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Property Assessed Clean Energy Program<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">In states that offer a PACE program&comma; property owners can finance a solar system by getting a loan from the city and paying it back through higher property taxes&period; The terms usually last from 15-20 years and will not reduce the equity of a home&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Shared<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Unfortunately&comma; not every building is a good fit for a solar system on its own because of too much shading&comma; home ownership regulations&comma; etc&period;&comma; but receiving solar power may still be a possibility through a shared alternative&period; This allows a community to invest in solar with one big installation with everyone subscribing to shared solar and paying for their portion of the agreement&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify">By choosing any of the above financing options made available by solar installers&comma; home and business owners will receive many benefits from going solar&comma; perhaps the most important being clean&comma; renewable energy&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify">Tiffany Olson has a special place in her heart for green and sustainable living topics&period; She is passionate about solar energy and loves to share information with the public as often as she can&period; When she is not writing or researching you will usually find her cooking&comma; reading or traveling&period;<&sol;p>&NewLine;

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