Solar Panel Finance Options
SOLAR Financing OPTIONS
At LA Solar Group, our competitive financing options allow you to enjoy the benefits of going solar without a large initial cash outlay. Although a cash purchase provides the most financial benefits, including the shortest payback period, the benefits of going solar via financing are very close behind. In comparison to other types of loans, solar loans are a great way to receive immediate financial value – by switching to solar, you can lower your energy bill right away, meaning that even with a loan payment, your net cash flow is improved. The financial specifics depend on your home and roof, sun exposure, system design, and other factors. Our expert team can help you run the numbers and understand the benefits of owning your system through financing.
LA Solar offers in-house financing for as little as $0 down. We also offer financing packages through our partners, Service Finance. Many customers also opt to secure financing for their solar project directly from a bank or credit union – this route can open the door to favorable terms. If you’d like to consider this route, please mention it to your solar consultant so we can help you with the details.
Solar PPA
Another avenue for going solar without a large initial cash investment is a solar power purchase agreement (PPA).
In a PPA, you don’t own the system on your roof, but you agree to purchase the power it generates at a predetermined cost (which is typically much lower than buying power from your utility). Under this structure, you get the benefits of solar production at a lower cost and you only pay for what the system produces.
Commercial Solar Financing
Commercial solar loans are also available.
One of the biggest benefits of switching to solar power is the money you’ll save on energy costs. Solar energy is cheaper than traditional forms of energy, and that savings will only continue to increase as the price of fossil fuels continues to rise. In fact, according to the Department of Energy, the cost of solar has fallen by more than 70% over the last decade. With commercial solar financing from LA Solar Group, you can take advantage of these savings immediately and start seeing a return on your investment from day one.
Reduce Your Carbon Footprint
As a business owner, you know that sustainability is important, both for the environment and for your bottom line. Customers are increasingly interested in supporting businesses that are environmentally responsible, so going solar can help you attract and retain customers. What’s more, reducing your carbon footprint can help you save on energy costs in the long run. And with commercial solar financing from LA Solar Group, reducing your carbon footprint is easier and more affordable than ever.
Take Advantage of Incentives
When you switch to solar power, you’ll also be able to take advantage of state and federal incentives designed to encourage businesses to go solar. Incentives like the federal Solar Investment Tax Credit can help offset the cost of switching to solar, making it even more affordable. So why wait? Contact LA Solar Group today and learn more about how commercial solar financing can benefit your business.
federal SOLAR INVESTMENT TAX CREDIT (ITC)
Currently, solar customers enjoy a tax credit in the amount of 30% of the total system cost for switching to solar. In 2022, the ITC was extended at the 30% rate through 2032. The ITC covers the cost of installation for solar, home batteries, and other renewable technology, and can cover the cost of any additional electrical or roof work necessary to move forward with solar installation (it’s best to consult with a tax professional to determine exactly what can be claimed via the ITC on your project).