Have been thinking about buying a solar panel for your house? The cost involved will be high right? Well, guess what? It is not as expensive as it used to be. A lot of innovative financing structures have been introduced in the past few years which allows more people to get into solar than ever before and for less money.
Here are some of the ways you can buy Solar Panels.
- Solar Leasing: This is a pretty simple and an inexpensive option. Each month customers will have to make a lease payment that covers the solar power system which produces some or all of the electricity that you use in your home or in your business. In case you consume more than you produce, then the rest of the electricity is bought from the utility. Unlike the other rooftop solar ownership models that are explored here, a third party developer completely owns, operates and also maintains the solar panels.
- Mass Purchasing: If you are in a colony, you can possibly consider talking to all the house owners and come into an agreement to purchase solar panels together, this way, many company will give you a great discount and the total money spent by you will be much lesser than if you would have purchased the solar panel individually.
- Community Solar Gardens: These are generally structured to let individuals buy as few or as many shares in a given solar installation. Customers receive dividends based on the percentage of the share they own. Depending on the size of their solar garden, customers will be able to buy into the system for a less price than virtually any other solar ownership model.
- Property Assessed Clean Energy Financing: This program can be the safest and best way for purchasing residential solar panels for your house. This program tie the cost of the solar installation to your property taxes and getting started with this requires literally zero upfront investment. This program usually does not even need credit checks. After a homeowner applies to their town and gains approval for the solar system, the price of the new system will be levied as part of their property tax assessment over the next twenty years, at a competitive rate of interest. But what will happen in case you want to put your home for sale? No issues, the solar system & the tax liability will go to the new owner of the home.
These are some of the lucrative ways to go solar.