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Financing residential solar: what are my options?

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Today, people are choosing solar for their homes at a rapidly growing rate and the opportunity to finance a solar project is better than ever before. Financing a solar panel system for your home is not a one-size-fits-all approach. There are multiple good options for payment plans that can be structured to fit your needs. You might find that most solar companies don’t discuss how financing might affect the total cost. But at Southern Current, we are all about empowering through education. Your options depend on your access to capital and how convenient you want your financing to be.

 

For customers who do not want to or are unable to purchase solar panels with cash, there are $0 down payment plans that offer immediate returns on electric bills even as they are being repaid. With nothing out of pocket, you can reap the rewards of going solar – which is the only home renovation that pays you back immediately.

There are two $0 down payment plan choices:

  • Solar Loans: tailored to the customer and have structured financing with low monthly payments.
  • Bank Loans: such as Home Equity Lines of Credit or HELOC, are the ideal option for lowest fees and interest rates.

All loans offer no money down and no hidden contract terms which allow you to finance the total amount of the system with the same basic conditions as other home improvement loans. Additionally, these payment plans can be used at the time of building a new house or even rolled into a new mortgage. One of our solar experts can help you decide which is the best fit for you. Every form of financing includes a 10 year workmanship warranty and allows you to own your system and the tax credits.

 

We all know that if you are mortgaging a home or building a new home, remodeling can get expensive. But why add additional costs when you don’t have to? Solar isn’t like a kitchen rehab that won’t ever truly pay off. One assumption when you buy a home, is that you are automatically going to be paying for power with a utility company from day one. But why rent your power? It never goes away. It’s like taking a mortgage with a higher interest rate by choice simply by defaulting to the power company for electricity.

 

Data from EnergySage.com

Electricity rates are constantly rising.  Solar fixes these costs and then pays off with very minimum maintenance.

Solar is an investment that is worth it in the end – because the risk and exposure is twice as bad if you don’t go solar.

 

Also, if you are wondering what happens when you sell your home – read more here. 

 

South Carolina Solar Energy News – March Edition

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The following article contains important news about solar & renewable energy in South Carolina from the month of March 2018. Contact the Southeast’s leading solar company Southern Current to learn about saving money by powering your home or business with clean, unlimited solar energy.

March News Solar Energy In South Carolina

U.S. News: Solar Producers Hope to Shine Light on SC Energy Woes

Sen. Tom Davis, R-Beaufort, says his proposal would benefit both South Carolina’s utility customers – who already pay among the highest rates in the nation – and smaller energy producers. If companies like Southern Current can produce power from solar farms more cheaply than building a coal or natural gas power plant, they can then sell cheaper power to a utility, which can then pass the savings on to its customers.

Utility Dive: In the New South, customer demand is showing utilities the dollars and sense in solar

The remarkable transition that utilities in the Southeast are undergoing is a powerful indicator of the profound changes happening in the nation’s power sector. The Southeast had 200 MW of solar capacity in 2012, but led by falling material costs and pro-solar state laws, it had 6 GW at the end of 2017, according to a report released in March by the Southern Alliance for Clean Energy (SACE).

Solar Energy Industries Association: U.S. Solar Market Report for 2017 Install Data

The Solar Energy Industries Association (SEIA) annual solar insight report was released in March, showing the U.S. solar industry installed 10.6 GW of new PV capacity in 2017, surpassing 50 GW total and marking back-to-back years of double-digit growth. In 2017, 30% of all new electric generating capacity brought online in the U.S. came from solar, second only to natural gas.

Save Money With Solar Energy In South Carolina

Southern Current is proud to be one of the top Solar Installers in the Southeast. Thanks to the numerous Solar Rebates & Incentives that are currently available, there’s never been a more affordable time to create your own energy! View the Southern Current Solar Panel Installation Portfolio to see projects we’ve completed in your area, or Contact Us to request information about a solar panel installation for your home or business and see how much you can save with solar.

South Carolina Solar Energy News – February Edition

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The following article contains important news about solar & renewable energy in South Carolina from the month of February 2018. Contact the Southeast’s leading solar company Southern Current to learn about saving money by powering your home or business with clean, unlimited solar energy.

February News Solar Energy In South Carolina

The Sumter Item: Five New Solar Farms Coming To Lee County

Southern Current will develop new solar farms at six rural sites in Lee County over the next five years. Solar panels at each site will absorb energy from the sun, which will then be sold to Duke Energy for electrical use in the greater region.

Southern Current Blog: Solar Industry In South Carolina Now Employs Over 2,800 Workers

Need another reason to support solar power in South Carolina? One word: Jobs. According to the latest Solar Jobs Report from The Solar Foundation, solar industry employment in South Carolina grew by 2% last year, at a time when the national trend of solar employment decreased across the country.

Popular Mechanics: Farmers Might Want to Swap Tobacco Plants for Solar Panels

A new analysis from researches at Michigan Tech found that tobacco farmers could make even more money harvesting sunlight. “We looked at likely trends in all of the major economic factors, but were surprised to find that because the cost of solar has dropped so dramatically it is already economically advantageous for tobacco farmers to replace tobacco with solar in many situations,” said researcher Joshua Pearce. The team also found that switching every tobacco farm in South Carolina to solar would generate 30 gigawatts of power, enough to run the entire state.

Save Money With Solar Energy In South Carolina

Southern Current is proud to be one of the top Solar Installers in the Southeast. Thanks to the numerous Solar Rebates & Incentives that are currently available, there’s never been a more affordable time to create your own energy! View the Southern Current Solar Panel Installation Portfolio to see projects we’ve completed in your area, or Contact Us to request information about a solar panel installation for your home or business and see how much you can save with solar.