Options for Paying for Solar

Solar power

What’s the best way to pay for solar?

Everyone is different, so there’s no single best way to pay for solar. There are several options you can choose from, and each option offers its own unique advantages.

All of the options offer electricity savings. And all 3 allow you to reduce your carbon footprint.

Let’s explore each option. You can decide what works best for you, your budget, and your financial goals. You’ll see that there are significant benefits to owning your solar system.

Learn about your options for getting a solar system.

Best option

Purchase Your Solar System Outright with Cash

When you purchase or system with cash, you enjoy the highest rate of return. As the owner of the system, you benefit from all available incentives and have no financing costs.

Great option

Finance Your Solar System with a Low-Interest Loan

Financing your system with a $0 down loan with a favorable interest rate is the next best thing to a cash purchase. As the owner of the system, you still benefit from any incentives as you pay off your system.

Okay option

Lease Your Solar System—But Forfeit the Incentives

Unfortunately, you cannot benefit from any incentives with a solar lease, which works like leasing a car. You put down an amount ($0 in many cases) and make monthly payments to a financing company.

What are the benefits of and differences between each option?

  Purchase Loan Lease/PPA
Option quality Best Great Okay
Who owns the system? You You Lessor
Upfront payment Options available Little to $0 down Little to $0 down
Monthly payments No Fixed Variable, with annual escalator
Eligibility for incentives Yes Yes N/A
SREC Management Yes Yes N/A
Production guarantee 20 years 20 years N/A
Workmanship warranty 20 years 20 years Limited
Manufacturer warranties Yes Yes Yes
24/7 system monitoring Yes Yes Yes
Purchase
Option quality Best
Who owns the system? You
Upfront payment Options available
Monthly payments No
Eligibility for incentives Yes
SREC Management Yes
Production guarantee 20 years
Workmanship warranty 20 years
Manufacturer warranties Yes
24/7 system monitoring Yes
Loan
Option quality Great
Who owns the system? You
Upfront payment Little to $0 down
Monthly payments Fixed
Eligibility for incentives Yes
SREC Management Yes
Production guarantee 20 years
Workmanship warranty 20 years
Manufacturer warranties Yes
24/7 system monitoring Yes
Lease/PPA
Option quality Okay
Who owns the system? Lessor
Upfront payment Little to $0 down
Monthly payments Variable, with annual escalator
Eligibility for incentives N/A
SREC Management N/A
Production guarantee N/A
Workmanship warranty Limited
Manufacturer warranties Yes
24/7 system monitoring Yes

Our mission is to ensure you get the most out of your solar experience. We can help you design a financing approach that meets your budget and goals.