Solar is getting really confusing although it shouldn’t. Some companies advocate buying and others leasing. Are these the only two options?
SunGuide Solutions is a non-biased company we don’t favor any specific approach neither installer. We are only biased to our customers.
Below are the available options in the market:
⦁ Purchasing is the oldest way of going solar. You would simply pay for the system and pay a significantly lower energy bill (Mainly service fees). It requires a capital as well as good research in the terms of the agreement. Creates the best return on investment and the shortest payback period.
⦁ Leasing: Developed between 2006-2007 and was very popular when it started due to the lack of upfront payment and bumper to bumper coverage, with a lower monthly payment. But slowed down in the last couple of years due to the problems appearing when selling the home and miscommunication in the way companies sold it. Certain utility companies will only accept the lease but in most territories it’s being replaced by the PPA.
⦁ PPA “Power Purchase Agreement”: In our opinion, a hybrid between the Lease and the Purchase where there is no upfront cost and the home owner buys the power produced by the system instead of buying it from the utility. PPA also gives the option to buy the system at specific times (Differs by agreement).
⦁ Financing ownership: It is getting more popular to buy the system using $0 down financing techniques like PACE programs and other secured and unsecured loans, as well as SAC loans to cover tax credits.
Are you confused or not yet? I know, that is why we are here. We help you explore the best scenario for your home, family needs, and financial situation.
Call us now at +1 626-941-4181 to schedule your free consultation!