When making the decision whether or not to use solar power for your home in Folsom, Ca, you have options. You may be able to buy or lease a solar system or sign a power purchase agreement. which way you choose can affect how much you spend up front and over the life of the system, whether you get certain tax breaks or not, and your responsibilities when you sell your home. Evaluate the company, product, costs and your obligations before you make a commitment. Do your homework and research you options.
When you buy a solar panel system for your home in Folsom, Ca, you may be eligible for tax credits or other financial incentives that offset the initial cost. If you lease or have a power purchase agreement (PPA), you can pay less up front and may have lower monthly payments, but you usually won’t get tax credits or other incentives — the company that owns the system will. Whether you buy, lease or have a PPA, you will probably still buy some power from the local utility.
If you decide to buy solar panels, you pay the cost of the entire system. Costs vary depending on the system’s size, but can typically add up to about as much as a new mid-size car. You might pay for your system with a home equity loan, or get financing through the installer, a bank, a credit union or a finance company. There may be a state or local financing program you can use (like a Property Assessed Clean Energy program, or “PACE,” where you repay a loan through your property tax bill). For more information about solar power for your home in Folsom, Ca. call Energy Savings California.