By the way, if you use The Solar Nerd to get deals, we only refer you to local and regional solar installers. Businesses that are large and local in the community rely much more on reputation and word of mouth for their business. It`s a way to make The Solar Nerd help you work with quality companies. Solar leasing and solar power purchase agreements (PPAs) are two types of solar financing options that make it easy to install a solar installation on your roof. Solar leases and solar PPAs are very similar, making it difficult to differentiate between the two. However, since the solar developer owns the solar system and not you, they get incentives such as the federal tax credit and SRECs. Many solar installers advertise with solar leases or power purchase agreements (SOLAR PPAs) as a simple way to reduce your electricity bill. If you are interested in a simple and poorly maintained option to install a solar system on your home, leasing solar panels is a good option for you. While solar leasing might be ideal for some homeowners, it may not be suitable for everyone. These are a number of other factors that must be taken into consideration before leasing Solar: leases and solar electricity deduction contracts are quite comparable in value. It is difficult to know if renting solar panels is worth it or if one option is better than the other, because it all depends on the terms of the contract. Here are some tips if you`re considering solar financing options: It`s worth noting that you don`t own the solar installation if you`re using a lease or ECA. The solar company owns the system and receives all the tax credits and incentives.
Depending on where you live, these credits can be considerable: more than 50% off system costs, in some states. On the surface, third-party ownership seems acceptable. If you don`t have the money or want to borrow to pay in advance for Solar, why not go with a lease or ECA? Yes, you`ll probably get a lower financial return – but you still get solar panels and you help the environment. Sounds good, doesn`t it? System Purchase: You can purchase the solar installation at any time during the rental period at the price set in your contract or at its market-consistent value, whichever is higher. . . .