Solar Financing Options for Homes - Sandbar Solar & Electric

Financing

Choose the best financing options for your solar installation

When you make the decision to go solar, it's good to know you have options for purchasing and financing your system:

  • Purchasing your system without financing will give you the best return on investment and shortest “payback” period.
  • Sandbar has also partnered with Mosaic, a top solar loan company based in the Bay Area, which allows qualifying customers to go solar for no money upfront/out of pocket for solar-only, solar-plus-battery, and battery-only projects. We can help you find out if you qualify for a Mosaic loan in about 5 minutes from the comfort of your home. They have an option where there are no loan payments due for 12-months after your installation is completed so you can, if you choose to, capture the federal solar tax credit and put that money toward your loan to lower your monthly payments. There are also no pre-payment penalties if you pay your loan off early. Mosaic also has a loan product that allows you to include some Home Improvement costs (such as re-roofing and structural repairs).
  • You can also use your preferred lender to finance your solar and/or battery project. Many customers finance their solar installation through their bank or credit union.

Regardless of which type of financing you choose, we're always here to assist with the details and to answer any questions you may have. We also recommend consulting with your accountant, tax advisor, CPA or financial advisor on the various tax benefits and financing options when going solar.

OWNERSHIP  vs.  LEASE: Not All Solar is Created Equal

Best Choice: Ownership

It’s our philosophy at Sandbar that owning your system outright is always the best option when it comes to going solar.

The Benefits of Ownership Include:

  • Receive 26% tax credit (through 2022, after which it will decrease to 22%)
  • Fastest Payback (typically 5-8 yrs. ROI)
  • Lowest Rates for Electricity (typically under .10 cents per kWh for 25 yrs.)
  • Increased Property Value
  • Discounts Offered for Cash Purchases
  • 10 year Workmanship Warranty for Leaks and Repairs (handled locally through Sandbar) and 25 year Product Warranty through Manufacturer
  • Materials Top Tier, High Efficiency, and/or Made in USA
  • Positive Environmental Impact

2nd Best Choice: Financed Ownership

Financed Purchase can often be an excellent path to Ownership, and ranks a close 2nd on our list of recommended options when going solar.

The Benefits of Financed Ownership include:

  • Receive 26% Tax Credit (through 2022, after which it will decrease to 22% – often used to pay down principle)
  • $0 Down Available and Low Monthly Payments (less than your current electric bill)
  • Flexible Payment Terms (5-25 years)
  • Increased Property Value
  • 2nd Lowest Rates for Electricity (typically between .10 and .18 cents per kWh for 25 yrs.)
  • 10 year Workmanship Warranty for Leaks and Repairs (handled locally through Sandbar) and 25 year Product Warranty through Manufacturer
  • Materials Top Tier, High Efficiency, and/or Made in USA
  • Positive Environmental Impact

3rd Best Choice: Leases

Leased Solar Systems, often referred to as Power Purchase Agreements, (PPA's), rank 3rd on our list of recommended solar options. In this model, there are some advantages and disadvantages that consumers should be aware of when considering this route.


ADVANTAGES

  • $0 Down
  • 3rd Lowest Rates for Electricity (typically between .18 and .23 cents per kWh (often with 2-3% increases per year)
  • Maintenance Covered During terms of Lease, (outsourced nationally)
  • Positive Environmental Impact


DISADVANTAGES

  • 26% Tax Credit Goes to Solar / Financing Company
  • Solar / Financing Company Owns the Equipment (you can purchase at the end of the lease terms – usually 20 yrs.) Early Buyout Penalty
  • No Increased Property Value
  • Often Difficult to Sell House with Leased System (new owner must assume the lease terms)
  • Cannot Remove System or Make Repairs to Roof (without permission of Solar / Financing Company)
  • Potential Impact to Mortgage Refinancing
  • Materials Lower Tier, Less Efficient and/or Made in China

Sandbar Financing Options

Below is information about several options offered by trusted organizations that Sandbar has partner with to assist our customers. 

Contact Sandbar Solar & Electric, and we can discuss the different plans with you more thoroughly.

Green Home Loans

Tap into the equity of your own house to finance your solar project and lock in at our lowest rate of $3.99% (terms apply). No upfront costs, low payments, (up to 25 years), and immediate savings on your PG&E bill.

mosaic

Get a Free Solar Consultation Today