Solar PV Financing

[Bill]

Having solar PV installed is expensive. Are there any financing available?

[tothe]

There is a 30% tax credit offered by the federal government until 2016. Also check with your local utility company if they offer rebates.

[JimK]

The Federal PACE was voted down by the congress last year. Freddi and Fannie Mae denied the program. Sonoma County offers PACE program for energy retrofit and solar system. Check with your county or city if they offer similar program.

[veum]

With solar PV system prices coming down so much in the past couple of years. You can buy the system and get your money back in about 10 years if you are an average user. If you don't want to spend the money up front, you can do the lease or "power purchase agreement". Talk to a few solar companies and decide what's right for you.

[eins]

In Germany, there is a feed in tariff program. To encourage the customers to install solar systems, the utility company promised its customers to pay them close to retail price for 20 years if they have surplus energy generated by their systems to tie to the grid . Since then, Many customers had installed solar. Now there is so much surplus energy that the utility company is paying its customers to use more energy. What a financial deal!

[sembernka]

Anyone try Solar City. I hear on the radio they have some pretty impressive financing programs that sound nearly too good to be true? Anyone here have it installed and can share your experience?

[boblee]

I have not used Solar City. However, in general, solar financing such as leasing or power purchase agreement, are very attractive ways to get solar PV to your home. The beauty of solar financing is that there is little upfront cost and the agreement is transferable if you decide to sell the house. Also your monthly electric payment should be reduced immediately. That is, unless your current bill is already very very low - then it is hard to get a good financing deal. Shop around, there are others that offer solar financing.

[sembernka]

Thanks bob! I did some more research and actually went through an hour conference with a Solar City rep. I think I will be going this route. Only downside is that if I get started now, I won't be saving until November because it's a 4 month project.