Solar Financing

Direct Ownership: Buying Solar Panels

Going {solar with cash|in the sun with money|solar using cash}

Cash is the {best|most effective}! Cash {payments are the best|is the most efficient|payments are the ideal} {way to save money|method to save money|option to reduce your expenses} and {get the highest return|earn the most|also get the best return} {on your investment|from your investments|for your money}. {This is the only|It is also the sole|The only} {way to get|method to obtain|way to receive} solar {power without|energy without paying|energy with no} {interest|the cost of interest|charges}.

{From the moment|When|As soon as} your solar {system is turned|system is switched|panel is turned} on, {it will produce|it will generate|it’ll generate} free energy{ and save you|, and also save you| and help you save} money. {Depending on the|Based on the|The} {size and|dimensions and the|dimension and} {type of|kind of|nature of the} solar panels you {choose|select|pick}{, the typical payback time| the payback period| the typical payback period} for {rooftop solar|solar panels on rooftops} {in|within|across} the United States can take between 4-8 years.

It is {easy to buy|simple to purchase|very easy to purchase} {a solar power plant with|solar power plants with|solar power plants using} cash{, as| since|, since} there {are no|aren’t any} third-party solar {financiers|finance companies}.

[xfield_company] offers 4 {progress payments to|advance payments for|advances on} cash {purchases|purchase}:

1. “Down {Payment/Deposit|Deposit or Payment|payment/deposit}” {- typically, $1,000|The typical amount is $1,000.|generally, $1,000} is due {at the time that|at the time|when} your {site visit is complete|visit to the site is completed|website visit is completed}
2. “Due {upon Approval Of|after Approval of|on Approval of} Site Designs” {- $2,000 due after|$2,000 due once|$2,000 due when} you have {approved your ‘final|gotten your “final|received your final} {site design’ from|site design’ with|design’ of the site from} the installer
3. “Due {upon|on} {Delivery of Materials|the delivery of materials|the Delivery of Materials}” {- 60%|60%|60% of the amount} is due {when|upon the day} equipment is delivered{ or the|, or on the| or on the} first day {after|following|following the} installation
4. “Due {upon Final Building Inspection|on the day of the final building inspection|upon the Final Building Inspection}” {- The balance|The balance is|The balance} due {when your project passes|upon the completion of your project|once your project has passed} {city|the city’s} building inspection.

The benefits of owning solar

{Your solar system|The solar system you choose to install} will {provide you with more|give you more|offer you greater} savings {over the life|over the course|throughout the duration} of your {life|existence.}

{While your lifetime savings may|Although your savings over the course of time may|While the savings you earn over time could} {vary depending|differ based|depend} on {your energy consumption|the amount of energy you consume|your energy usage} and {your zip code|the zip code you live in}{, owning your solar system| having your own solar system| that is why owning your solar panel} is the {best option|most efficient option|best choice} for {customers who are|those who are|those} {interested in|looking to go|keen on} solar. {Renting from a third-party|A third-party rental|The option of renting from a third party} system {will yield higher|can result in higher|will result in greater} {savings if you own|returns if you have|saving if it is owned by} {your|the} system.

Solar ownership directly increases your home’s value

{According to|As per the|Based on the} U.S. Department of Energy’s Lawrence Berkeley Labs, home-buyers will {pay \$4/Watt more|be charged \$4/Watt more|pay an extra \$4/Watt} {for solar panels|to install solar panels|in order to get solar panel}. {Your home’s value|The value of your home|Your home’s worth} {will be determined by the solar|is determined by solar|depends on the} panels{, which will| that will|, which} {provide free electricity for many|offer free electricity for a number of|give you free electricity for many} years. You {can still|are still able to|may still be able to} sell your {home even if|house even though} you’re {paying off|in the process of paying off|repaying} the loan. You {can transfer the loan to|could transfer the loan to|can transfer the loan} the tenant{ or repay| or pay back|, or repay} the {remaining loan amount|loan balance|remainder of the loan} {with the sale|through the sale|by selling the property}.

The Solar Investment Tax Credit is available to you

You must {meet|satisfy} the following {requirements to|conditions to|requirements in order to} be eligible for{ the|} tax credit{:|}

• You can {purchase your system|buy your system|purchase your equipment} {using a loan|by using a credit card|with a loan} or cash
• You {can pay income taxes|are able to pay taxes on income|can pay tax on income} {equal to or greater than|in excess of|that are greater than} 30{% of the system cost| percent of the cost of the system.| percent of the total cost for the system.}

It’s {that easy|as simple as that|that simple}! This is a {step by|step-by} {step guide to help you|procedure guide that will help you|process guide to help} {file for your|apply for the|to apply for your} {federal|Federal|tax credit under the federal} Solar Investment Tax Credit. The tax credit {equals|is|amounts to} 30{% of the total| percent of the total| percent of the} {cost of your|price of your|amount of the} solar system. The {total credit is taken|credit total is taken|entire credit is deducted} from your {personal income taxes|personal income tax|own income taxes} {in the year|at the time|during the year that} {your system starts|the system begins|your system is first put into} production. What happens if {you have|you pay|there are} {lower income taxes than your|lower taxes on your income than your|less income tax than the} tax credit? {The|It is possible that the|This} Solar Investment Tax Credit will {rollover to the next|be carried over to the following|carry over to the next} year{ if necessary, up|, if needed, up| if required,} to {a maximum of five years|5 years maximum|the maximum of five years}.

Solar Ownership Cons

One of the {downsides to|disadvantages of|drawbacks of} {owning your system, however|having your own system, however|the ownership of your system}{, is the responsibility| it is the responsibility| you are responsible} for {panel maintenance|maintenance of the panel|maintaining the panel}

Maintenance is {easy, thanks|simple, thanks|simple due} to the {simplicity|ease} {of solar systems|that solar panels offer|in solar system}. {A solar system has no|Solar panels do not have|Solar systems do not have} moving parts, {so it|which means it|and therefore} {requires little|needs minimal|requires minimal} or {no|any|even no} maintenance. {While your solar system might|Although your solar system may|While your solar panel may} {need to be cleaned up|require cleaning|need to be cleaned} {after dust or dirt collects|when dirt or dust accumulates|when dirt or dust build up}{, tilted panels can be| the panels that are tilted can be| on tilted panels, tilted panels are} easily cleaned {by|with} regular rain. {It will be|It is|It’s} your responsibility {for finding|to find|to make} {repairs if your panels are|solutions if your panels become|fixes if your panels are} damaged. [xfield_company] offers a {strong warranty to protect|solid warranty that will protect|robust warranty that protects} {you against any unforeseeable|against unanticipated|your against all unpredictable} {damages|damage|harms}.

{You should|You must|It is important to} {monitor your energy production|be aware of your energy production,|keep track of your energy consumption} {if you own the system|when you own the system|in the event that you own the equipment}. {Every month, check|Each month, you should check|Every month, look at} your {electricity bill and|electric bill as well as|energy bill and} solar {production|power production|output}. If you {don’t check|don’t monitor|do not check} your system {regularly|on a regular basis|often}{, it may go unnoticed| you may not be aware of it| the system may be unnoticed} for {several months|a long time|months}.

What to look for when financing solar panels

{You may feel compelled|It is possible that you are compelled|There is a temptation} to {choose one type|select a specific type|select one kind} of {lender|loan|creditor} {when financing|for financing|to finance} solar panels. {Let|Allow|It is our goal to help} [xfield_company] help you {to proceed with the purchase|in completing the purchase|to make the right choice when it comes to purchasing}. {An interest differential of just|A difference in interest of only|A small interest differential of} {one percent can make a|1 percent could make a|one percent could make all the} {difference in saving you|an impact on saving you|difference in saving} {thousands of dollars over|hundreds of dollars in|many thousands over} the {lifetime|life|duration} of {your|the} solar loan.

Here are some {things|points|tips} to {consider when|keep in mind when you are|think about when} {financing solar|you are financing solar|making a solar loan}.

• {Low interest rates|Lower interest rate|Interest rates are low}. Solar panels{ will|| can} {pay back faster if you|repay faster if you|pay off faster if} {pay less for your loan|make less payments on your loan|take out a loan with a lower cost}.
• {Repayment terms that|Terms for repayment that|The terms of repayment} are {attractive|appealing}. Personal {loan repayment terms|terms for loan repayment|loan terms} {that are attractive|that are appealing|which are attractive}. {Your monthly payments could|The monthly payment could|Your monthly payments may} be {too high if the|excessive if the|too high if your} {repayment term|duration of the repayment|timeframe for repayment} {is too long|exceeds the length of your loan|has been extended too far}. {You will pay more|There is a higher rate of|You’ll pay more for} interest if the {term|repayment term|period} {is too long|exceeds|will be too lengthy}. The shortest {possible loan term|loan term|term you can get} is {what you should be|the one you’re|the one you’ll be} {able to afford|capable of paying for|in a position to pay for}.
• Perks. {Solar power financing perks|Solar power financing benefits|The solar power financing benefits} {that are the best|that are top-of-the-line|which are most beneficial} include a lower {interest rate|rate of interest} {on autopay, easy|on autopay, quick|for autopay,} access {online to your|to} {loan information and unemployment protection|loan details, and protection from unemployment|loan’s information, and unemployment insurance}.

Is solar panel financing right for me?

{After you sign|Once you have signed|When you sign} the {contract for solar power|solar power contract} {financing|finance|funding} {with|through|by} [xfield_company], you {will be eligible to receive|are eligible for|will be eligible for} {a federal tax credit|an income tax credit from the federal government}. You {may be|could be|may also be} {eligible for tax incentives from|qualified for tax incentives from|eligible for tax incentives offered by} the {state or local|local or state} government, {depending|based} {on your location|on the location you live in|upon your location}.

{Federal solar tax credit, also|The Federal Solar Tax Credit, commonly|Federal tax credits for solar, often} {known|referred to} {as the|by the term|as an} {investment|ITC, or investment|Investment} credit (ITC){, allows| provides| offers} {26% deduction|26% deductibility|the deduction of 26%} from {your federal taxes for|federal taxation for|federal taxes to cover} the {cost|price} of your solar {system|panel}. The incentive {will be reduced|will decrease|is set to be cut} to 22% {by 2023,|by 2023|in 2023} and {it will expire|will end|it expires} {in 2024 for residential installations|at the end of 2024, for installations that are residential|after 2024 on residential systems}. {However, if you have|If you’ve got|If, however, you have} {a $12,000 system installed|an installation of $12,000|installed a $12,000 system} this year{,|} the {federal tax credit|tax credit for federal taxpayers|tax credit from the federal government} {will be $3120|is $3120|would be 3120} ($12,000 {x|multiplied by|divided by} 0.26 {=|equals|is} 3,120).

{It is a major|It’s a big|It’s a significant} {decision to finance|choice to finance|decision to fund} {a purchase|the purchase|an investment}. {Consider your monthly budget,|Take a look at your budget for the month,|Think about your monthly budget} and {how much you can|the amount you could|how much you will} {save on total costs|reduce your total expenses|reduce the total cost} to {determine if a solar|decide if a solar|determine if a solar-powered} loan is {right|the right choice|the best option} for you. {You can use pencil|It is possible to use pencils|You can utilize pencils} and paper to {calculate|determine|estimate} the{ actual|| exact} {cost of the loan after|price of the loan, after|cost of the loan} {taking into account|considering|accounting for} tax credits {and lower utility|as well as lower utility|and lower electricity} {bills|costs}. There aren’t many {home improvements|home improvement projects|improvements to your home} {that can help the environment|that are environmentally friendly|which can benefit the environment}{, reduce our dependence| and reduce our dependency| decrease our dependence} {on fossil fuels and increase|on fossil fuels , and boost|of fossil fuels, and improve} the {property’s value|value of your property|value of the home}. {It is worth looking into|It’s worth considering|It’s worthwhile to look into} {solar power financing|the financing of solar energy|finance for solar panels}.