Cash whenever possible, is always best. Guarantee lowest prices and quickest turnaround and fastest ROI. Self amortized costs can achieve ROIs as low as 7 years for residential projects and 5 years for large commercial projects.
A home-equity-line-of-credit is a fantastic option considering the loan is being used to improve the value of the home being borrowed against. HELOCs will almost always have the lowest origination fees and above average interest rates.
The Solar Energy Loan Fund has options available for veterans, minorities, and single parent households. They offer average interest rates and average origination fees.
Financing through the solar company is possible, with very low interest rates available and long term loans, but typically come with higher than normal origination fees. Our primary lenders are Mosaic, Sunlight, Loanpal, and Sunnova. Assuming a fairly straightforward installation, we will usually make sure the payment for solar is lower than the current utility bill. By locking in this payment, the savings will grow every year as utility rates continue to rise.
Property Assessed Clean Energy is a fantastic option for many homeowners which has pros and cons that you should be aware of. The biggest pros are that a homeowner can lump many home improvements together in to the same assessment, including roofing, windows and doors, and solar. PACE is different than a conventional loan because the payments are made through a line item on your property tax bill. It is possible to actually pass the assessment on to a new homeowner if the house is sold, but it is important to know that a lien position will be taken on the property and the PACE assessment may need to be paid off at the time of sale if the new lender doesn't accept it. PACE offers competitive interest rates but typically has high origination fees.
We are one of the few companies in Florida to offer a Solar Lease, meaning we will install the solar on your home and you will "lease" the power from us, but never actually own the system. This is a great option for homeowners who are uncertain how long they will be in the house because we can guarantee that the new homeowner will be eligible to take over the lease. This is also a good option for homeowners who simply want to stop paying the utility and save money every month by paying for solar. This option carries low fees and the payment will be lower than what is currently being paid for utility power.