But even if solar is “affordable,” many homeowners and businesses believe that the technology is not affordable enough. Or rather, they assume they don’t have adequate budgets to finance a new installation.
Nothing could be further from the truth.
But it’s easy to understand where this common misconception comes from. After all, solar is often associated with celebrities, eco-warriors, and the super wealthy.
However, this stereotype is changing rapidly as ordinary homeowners across the country decide to take the plunge. In 2013 alone, there were more than 140,000 solar installations – up from 83,000 a year prior.
What do all these people know that you don’t?
There’s a San Diego Solar Solution for Nearly Every Budget
As covered yesterday, PV panel prices keep falling. And in San Diego, California, you have access to an enviable range of incentives and government-financed programs to help bring down the cost of your installation even further.
What once might have cost $70,000 or even $90,000 – is now accessible for as little as $10,000 (which represents the average cost of a solar installation in California).
But $10,000 is still a lot of money. What if you don’t have the cash?
There are 2 easy and affordable ways to finance your solar installation – even if you don’t have the money on hand.
1. Solar Leasing
With a solar lease, someone else pays for all of the installation and maintenance. There is usually no cost to get set up with a brand-new solar PV system. You only pay for the clean electricity that your “leased” panels generate. And with a standard solar lease, this monthly payment is less than what you currently pay to the utility company.
Receiving a free installation is obviously very attractive. But there is an even better way to finance your solar PV system (yes – better than free).
2. Solar Loans
Many of our customers take out low interest solar loans from the bank (with our help). They use this money to finance their installations. And instead of sending money to the utility company every month, these customers send much smaller loan repayments to the bank instead.
How is this better than a solar lease?
- Well, you receive the same great savings starting on Day 1 (your loan repayments to the bank are less than what you used to pay to the utility company).
- All solar incentives and tax credits come directly to you (the system owner). With a solar lease, someone else receives these monetary benefits.
- Once your system is fully paid for (in about 4 to 6 years), you’re done. No more payments to the bank, to the utility company, or to anyone else. Instead, you enjoy decades of free electricity for the remaining lifetime of your system (which can last 40 years or longer).
Can You Really Afford NOT to Go Solar?
Immediate savings. Affordable financing. Decades of free electricity – even as utility rates rise.
Many people believe that they can’t afford to go solar (even as the technology becomes cheaper). But with the benefits outlined above, can you really afford NOT to go solar?
At Sunline Energy, we believe that PV technology is within easy reach of every budget imaginable.
To learn more about our approach to solar installations and financing, request a free home inspection today.
And be sure to tune in tomorrow when we look at San Diego Solar Myth #3.