How to Afford Solar Power for Your Home

Are you interested in installing solar panels on your home, but not sure how to pay for it? Understanding your options for this long-term investment is critical if you are going to make the right decisions for you and your family.

You're in a Good State

Colorado's solar record is excellent. As of 2019, Colorado has well over six thousand solar jobs, ranking it 8th in the country for solar employment and 12th in the nation for solar projects. For you, as a homeowner, this means you have plenty of resources to choose from.

Financing vs. Leasing

Financing is one option and has only been around for the past decade. When financing a solar install, you are essentially purchasing it through a lender, so you technically own the system.

Financing has a few benefits. Most notably, you are still eligible for the federal solar tax credit, which is 26% for 2020 and includes solar panels, storage, and labor. If you have good credit, you can get very reasonable interest rates, sometimes as low as 3% through Colorado's RENU program.

When leasing a solar system, you don't own it, so you are not eligible for the tax credit. However, this option may be more suitable for some situations, such as retirees or if you otherwise do not pay taxes.

You can always purchase the system outright as well. The average solar set up is around 20K. This figure can vary depending on how much power you need. You may be in a position to pay for a system without relying on financing or leasing.

Conclusion

With dozens of solar companies to choose from, it can get mindboggling. From identifying a reputable installer to exploring all of your financing options, I can guide you through the process. 

Do experience and a strong track record matter to you?  For years I have worked with some of the largest, most pioneering solar companies in the industry. Contact me today and let me help guide you through the process.