For many solar fans looking to install their own arrays, it can be hard to put up the cash. Especially these days, when any investment is daunting for folks getting back on track after the rough economic downturn. You are not alone in balancing your financial caution with your desire for energy upgrades.
So, what would happen if you could take the time to take a look at CURRENT improved financing options making it possible to push back against power companies? As global warming brings us more power outages and utility bills continue their steady upward climb, SolarUnion tirelessly sets out to assist our local community with safeguarding against these endless cash drains.
Traditional Financing Options
We can all agree that ongoing dependence on the energy supplied by utility companies is harming our financial and environmental well-being. So how do struggling and stable property owners meet these challenges? After a year and a half of economic turmoil, many interested customers need help accessing the necessary capital they need to take control of their own energy usage and production. Big banks are often not the answer. Through our years of experience outfitting over 2000 homes with effective solar energy systems, SolarUnion has helped all kinds of customers partner with well-established financial backers specializing in renewable energy initiatives.
Service Finance, Mosaic, Energy Loan Network, CaliforniaFirst, and even credit unions such as Provident Credit Union are recent examples of reasonable, reliable lenders leading customers to successful outcomes. While SolarUnion doesn’t directly represent financial groups, we have been able to effectively team up with them and their diverse customers. Such a bridge often enables us to offer customers outstanding $0 down financing options, with rates as low as 0.99%, to own the system and the federal tax credits that come with it. We also offer an extensive selection of battery storage systems with varied financing options.
What If Traditional Financing Plans Aren't an Option?
Financial groups specializing in home improvement projects are acutely aware of the varied financial cash flows amongst their demographics. For some borrowers having great credit and a job, it’s easy to apply and attach a recent check stub. Boom. You got the loan, and the install can start. But for so many who have weathered the loss of linear income streams, it’s not that simple. So, some specialist lenders can often accept total household income (not just that of the individual borrower) for loan approval. Crowdsourcing can also be an option, where there is more than one investor. And for those who are able, there are also options for different types of down payments, resulting in a smaller monthly loan repayment, at a more favorable interest rate.
Buy Now to Get the Most Out of Your Solar Panels
The tax write-off of 26% of the cost of installing a solar energy system will begin to drop after 2022, going to 22%, before going away entirely in 2024.
The current federal goal for 2035 is to see 40% of electricity generated by solar. At historically low financing costs, you can help the U.S. reach that goal. Moreover, by investing now, you enjoy the existing Net Energy Metering (NEM2.0) benefits, which, like the tax credit, are also projected to decrease after this year. You can sell electricity not used to the utility company, which offsets your monthly utility bill. When NEM2.0 is changed as expected at year’s end, the payments you could receive for selling your excess energy to the grid will decrease by 50%. Equally distressing is the fact that credits towards winter bills from the existing True Up arrangements will no longer be available.
Not only does financing a system now make sense, it has also become far easier over the past few years. A new solar array can also add to the value of your home, an important factor for those selling in the very buoyant Bay area housing market. SolarUnion can connect you with one of our experts for a consultation about the mixed financing options, and our team can work with you on a customized proposal designed specifically for your home and needs.
The Sooner You Save, the More You Save!
SolarUnion’s unique approach is to directly partner with local consumers to provide optimal home solar systems having extended warranties to safeguard reliability and save money. We are not just on the phone with customers, we are thorough and our stellar warranties run longer than other outfits. We can also upgrade existing systems to add backup and solar-powered batteries. In addition to our comprehensive solar and battery backup solution services and installations, we offer solar readiness audits (including roof inspections), repair and maintenance services, and electrical panel upgrades. From HOA solar to community solar, we are experts on all type of roofs and experienced in ground mounted solar panels.
By scheduling a 20-minute call with SolarUnion, you can discuss questions and details for the vast array of financing options. You can place yourself directly in our calendar or fill out the form on our website to schedule service, or call SolarUnion directly at (888) 815-6633.