Solar Financing 

Leasing solar panels

For homeowners who prefer not to purchase solar panels outright, leasing is a popular option. With a solar lease, you pay a monthly fee to use the solar panels, similar to a rental agreement. This option typically requires no upfront cost, making it an attractive choice for those on a tight budget. Additionally, the leasing company is responsible for maintenance and repairs, providing you with peace of mind.

However, it's important to note that with a solar lease, you won't be eligible for any tax credits or other financial incentives. In addition, you may need to pass a credit check to be approved for a lease.

Solar loans

If you'd like to own your solar panels and take advantage of the financial incentives, a solar loan may be the right choice for you. With a solar loan, you borrow the money to purchase the solar panels, and then make monthly payments on the loan. This option allows you to benefit from any tax credits or rebates available, helping you recoup the upfront costs over time.

Similar to other loans, solar loans do require a credit check. However, with the potential energy savings and incentives, many homeowners find that the benefits outweigh any potential drawbacks.

Power purchase agreements (PPAs)

If you're looking for a flexible way to go solar without any upfront costs, a power purchase agreement (PPA) might be the best fit. With a PPA, a solar company installs and maintains the solar panels on your property, and you agree to purchase the electricity generated by the panels at a predetermined rate.

The main advantage of a PPA is that you only pay for the energy produced by the solar panels, which can result in immediate savings on your energy bills. However, it's important to carefully review the terms of the agreement to ensure that the rate and terms are favorable. Additionally, similar to a lease, you may not be eligible for certain incentives or tax credits with a PPA.

When considering solar energy for your home, it's important to explore your financing options. Whether you choose to lease, take out a loan, or sign a power purchase agreement, there are solutions available to fit your financial situation and goals. Going solar not only benefits the environment but also your wallet in the long run. Contact a reputable Las Vegas solar company today to learn more about the financing options and start your journey towards clean, renewable energy.