Solar loans give buyers an easy payment plan over a fixed term. You get fast approval depending on credit status, and lock in low-interest rates. Solar loans generally give the borrower immediate ownership of the panels, meaning they can benefit from solar tax credits, rebates, and lower energy costs as soon as the panels are up and running.
Solar leases are a great way to get a solar system installed and save money on your electricity bills without dealing with expensive upfront costs. Leasing means a third-party usually a solar financing company owns the panels; as a customer, you’ll only have to pay a small fixed monthly fee.
A solar power purchase agreement (PPA), you’ll be purchasing power generated by the panels at a price below market rates. PPA gives you an option to buy the system after 5 years. you do not have to pay upfront costs your system is installed for free.
If you have the funds, you can always pay for your solar array outright. This requires the steepest investment at the outset, but it also guarantees that all rebates, credits, and net-metering payouts belong to you and not to a financing company.
But how do you choose from the dozens of solar providers? follow this helpful step-by-step guide to find the right solar provider for you.
Step 1 – Compile a list of solar providers
The easiest way to compare solar providers is to create a document that includes the details of each company, all on one page. Using an Excel spreadsheet, a Word document, or a sheet of paper and a pen, compile a list of available solar providers near you.
Step 2 – Check company reviews
All the certifications and experience in the world won’t matter as much if the company doesn’t treat its customers well. From attaining the correct permits to choosing the size of your solar array to applying for federal and state tax credits, going solar is complicated. You want to work with a company that is approachable and helpful.
Step 3– Check financing options
There are a few different ways to finance solar options, including paying cash, taking out a loan, leasing, or entering a power purchase agreement (PPA). You’ll want to find out which options each company on your list offers and make note of it.
Step 4- Request quote
Eco Planet home is your one stop shop for solar needs. with over 5 years of experience we work with the top solar providers .