When you decide to invest in a solar installation, you can finance it through several different options. You can purchase your solar array outright with cash or a solar loan. When you select this option, you keep the installation on your balance sheet, but we maintain your solar panels for you. Purchasing your solar array outright is a good option for you if your business or organization has usable capital and available tax appetite. Additionally, you can take advantage of solar tax credits and incentive programs when you own your solar array outright.
You can also finance your solar installation with a power purchase agreement (PPA). When you enter into a PPA, we own the solar array, and you purchase its generated electricity from us. This option works well for businesses and organizations with little usable capital. However, your PPA electricity prices depend on the prices in the current solar markets, which means the price can change quickly.
Similarly, you can also finance your installation through a solar lease. This financing option is similar to a PPA, but its prices aren’t as volatile. Instead, you pay a fixed, flat payment for the system’s energy during a lease period. The flat payment can help drastically reduce your energy expenses. Once the lease period ends, you can renew your lease or purchase the solar energy system outright. The solar lease option gives you cost-effective access to solar energy without requiring any upfront capital.