There are basically two ways you can acquire affordable solar panels and become energy-independent: Cash purchase or financed purchase.
To help you get started we’ve outlined a few of the most popular financing options below. You can also contact us directly for a free, fully customized quote for your home. No commitment required.
The average return on cash solar investment is around 3 – 9 years, depending on system size.
Today it is possible to finance part or all of a solar system purchase. There are a variety of options available with terms of 12 months to 20 years, ranging from no payments/no interest, to interest payments only for the first year, to preferred rate subsidies. Many of these plans offer credit approval within minutes, and process the entire transaction electronically on your behalf. In addition to a loan, a buyer can also acquire short-term financing of the credits and incentives to keep initial out of pocket expense low without long-term financing.
What you need to know about solar tax credits
The state of Wisconsin doesn’t charge sales tax for the purchase of solar. Through the solar Investment Tax Credit (ITC), the federal government allows 30% of the solar system cost as a credit off of owed federal taxes. The tax credits are a huge incentive for many people because they offset nearly one-third of the purchase price!
Solar is a Great Investment
An added benefit to purchasing or financing your solar electric system is the net increase in your businesses real property value. A new 2016 study revealed that there is demand from home-buyers for solar energy homes, finding that buyers consistently have been willing to pay more for homes with photovoltaic energy systems.
The study – “Selling into the Sun: Price Premium Analysis of a Multi-State Dataset of Solar Homes” – found that buyers were willing to pay an average of about $4 per watt of PV installed – across various states, housing and PV markets, and home types. This equates to a premium of about $15,000 for a typical 3.75 kW PV system.
Real estate professionals will tell you that some home improvements will add value to your home. Others, not so much.
For years it was an article of faith that adding a deck or updating a kitchen would pay off when it came time to sell. Putting in a swimming pool, on the other hand, didn’t add a premium.
Lately, something else has helped sell a house. The National Association of Realtors (NAR) noted in 2013 that going green seemed to make a house more desirable. It said a survey found that buyers placed a high importance on energy efficiency when searching for a home.
Things that affect monthly energy costs were frequently cited as the most important. Some 39% of home buyers said heating and cooling costs were the most important green feature of a home, followed by energy-efficient appliances and lighting, at 24% each.