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Loan or Lease Your Solar Energy System?

Three ways to finance your solar energy system:

Solar energy home systems gives you money back.There are primarily three ways to purchase your own home solar system:

  1. cash,
  2. loan,
  3. and lease.

Not everyone has extra cash for investment purposes on the scale of a residential solar system, so loaning and leasing are very popular financing routes. The question is which route is ideal? With either option, you are replacing your electric utility rate with a lower payback rate for the solar system. By simply leasing a solar system, you are saving money. However, purchasing a solar system with a loan allows you to save even more.

With a credit score of 650 or higher, you can obtain a $25,000 loan for your solar system at a fixed payback rate anywhere from 4.95 – 9.95%. This loan is provided before the project begins. By financing a solar system with a loan, you can apply your utility rebate and federal tax credit using a one-time free amortization of the loan to substantially reduce your monthly payments. This is not so with the leasing option, and loaning results in lower monthly payments than does leasing after these reductions have been included. Additionally, the interest of the solar system is tax deductible with the loaning plan.

What does solar leasing offer that a solar loan does not?

Put simply, not much. By leasing a solar system, you can enjoy free installation and initially lower monthly payments. However, the lease’s payback rate increases annually and ends up exceeding the loan’s payback rate after applying the utility rebate and federal tax credit to the loan. In short, loaning is cheaper than leasing.

Easy zero dollar solar financing your solar energy home system.Both loaning and leasing solar offer $0 down payment and a 20-year payment term.

So, which purchasing plan would you rather have? It’s best to put yourself at the end of 20 years and think about the results. With leasing, you paid nothing to install the solar system, made monthly payments lower than the electric utility rate that you eliminated, and had the solar system removed for free. With loaning, you pay for installation, but you make lower monthly payments than with leasing, and you keep the solar system at the end of the 20 years. Think of leasing as paying a reduced electric bill for 20 years, except that payment is to a solar provider instead of the electric company. Loaning is similar, except that at the end of 20 years, you will not have to pay for electricity again, and the value of your home increases with the addition of the solar system. In almost all cases, purchasing a residential solar system with a loan is the route to take if you cannot finance it with cash.

Free Solar Power Generation Evaluation

    Your Swan solar experience will include the following:

  • Technically accurate solar system designs.
  • Rapid engineering and construction approvals through your local city building departments.
  • Highest quality products and installations.
  • Solar energy lowers your utility costs while increasing the value of you home.
  • Long-lasting warranty protection from a 50-year-old organization that has demonstrated its ability to cope and prosper over the years.

Please visit Swan Solar’s website for more solar energy financing information, and consider a free solar consultation and evaluation of your home.

 · Escondido, CA Office: 20265 Cedar Lane, Escondido, CA 92029 · 760-294-4404 · 
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Serving the Greater San Diego County · Specializing in the Carlsbad, Chula Vista, Coronado, Del Mar, El Cajon, Encinitas, Escondido, Fallbrook, Imperial Beach, La Mesa, Lemon Grove, National City, Oceanside, Poway, San Diego, San Marcos, Santee, Solana Beach, and Vista areas.
 · Orange County, CA Office: 24512 Bridger Rd., Lake Forest, CA 92630 · 949-309-3409 · 
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Serving the Greater Orange County and parts of Los Angeles, San Bernandino, and Riverside Counties. · Specializing in the Aliso Viejo, Anaheim, Anaheim Hills, Balboa Island, Brea, Buena Park, Capistrano Beach, Corona Del Mar, Costa Mesa, Coto De Caza, Cowan Heights, Cypress, Dana Point, Dove Canyon, El Toro, Foothill Ranch, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, Lake Forest, Ladera Ranch, Laguna Hills, Laguna Woods, Laguna Niguel, Laguna Beach, La Habra, La Palma, Mission Viejo, Newport Beach, Placentia, Pomona, San Juan Capistrano, San Clemente, Rancho Santa Margarita, Seal Beach, Tustin, Villa Park, Westminister, and the Yorba Linda areas.
 · Walnut Creek, CA Office: 1295 Boulevard Way Suite C, Walnut Creek, CA 94595 · 925-934-8181 · 707-545-8181 · 
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Serving the Alameda County, Contra Costa County, Marin County, San Francisco County, San Mateo County, Santa Clara County, Lake County, Mendocino County, Napa County, Solano County, Sonoma County

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