Cash

A Cash Purchase

How Does it Work?

A Cash Purchase is a very straightforward arrangement. The homeowner simply pays in cash, signs the agreement, and we install. 

Who Finances it?

With a Cash Purchase a homeowner will be paying for the system in full.

Who Owns the System?

The homeowner will own it from day one. This means they may be eligible for the tax credit. 

How Long is the Agreement?

There is no term for this agreement. However, The installer will still offer a 25-year workmanship warranty. 

What Does it Take to Qualify?

If a customer is the owner of a property, their roof is structurally sound and they have the money to spend they are eligible. 

How Does the Billing Work?

The homeowner can pay by checking account (ACH) or credit card.

Downpayment: The Homeowner will pay Initiate Solar a $1000 down* payment upon contract signing.

For Remainder Payment: If you indicate ACH as the method of payment for the remainder of the balance, it will automatically charge the homeowner on the day of installation. If Credit Card is the preferred method, we will issue an invoice that can be paid online as soon as installation has been scheduled, with the due date as the installation date. 

How to Determine the Savings?

For a cash purchase the homeowner will be looking for their return on investment. This is a simple calculation. Lets say for this example that the system costs $30,000 and their normal utility bill is $250. If the homeowner qualifies for the tax credit they will be able to claim $9,000. This leaves $21,000 as the net price of the system. Next divide the net price by the average monthly bill $21,000 / $250 = 84 months or 7 years. 

What if the Customer Moves?

If a customer moves they will be able to add the value of the system to the value of their home and the new buyer will have no electric bill unless they use power in excess of what the system produces. 

What are the Positives?

Paying Cash will always be the best deal. No interest rates, no monthly bills, and there is a 10% discount. The homeowner will be eligible for a tax credit and will have no extra steps when it comes to selling the house.   

What are the Negatives?

The only negative is that the homeowner has to wait for their return on investment.

What Kind of Customer Should Choose This Product?

If a customer has the capital to spend and does not mind waiting to see the value of their investment they should absolutely buy their system in cash.