If you’ve decided you’re ready to switch to solar power, your next questions are, “How much does it cost?” Followed up by, “What are the different financing options for solar panels?” Along with more traditional methods like loans or out-of-pocket cash, there’s also a leasing option. We’ll go over all of the financing options today so you can get an idea of which one is best for you.
It’s hard to beat old fashioned cash. If you have the money to cover the entire installation out of pocket, great! You’ll save a ton of money over the years, and be able to enjoy the money-saving benefits right away. With no loan or PPA monthly payment, you can save even more money each month. By paying with cash, you enjoy powering your home for the next 25 years or more with nothing but energy from the sun.
If you want to own your solar panels, but can’t pay in cash, a loan would be a good fit for you. There are no upfront costs, so you can have a new solar panel system installed for zero money down. Your monthly payment will most likely be less than what you’re paying for electricity now.
After Aurora Energy designs your custom solar panel system, your solar consultant will provide you with different loan options. We work with several different solar loan companies, so not only will we help find a custom system for you, we can assist you with finding a solar panel loan that best fits your budget.
Power Purchase Agreement (PPA)
If you aren’t interested in owning solar panels but want the money-saving benefits of solar energy, consider leasing through a Power Purchase Agreement (PPA).
With a PPA, you lease the solar panels and purchase the power they create from us. And it’s often much less than what you’re currently paying to your utility company. Plus, if there’s ever any repairs needed or any issues with your leased panels, just contact your solar energy consultant. They can assist you. So not only can you save money every month, you have the added benefit of support from Aurora Energy.
All three of these options are more affordable than traditional utility companies. So no matter which route you go, you’ll save money on electricity every month. When you talk with your solar energy consultant, ask them about all of the different financing options for solar panels. Regardless of whatever way you want to finance your solar panel system, Aurora Energy can help. Contact us today!