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Need financing for solar? Simply click on your state to examine your options. Whether you are a homeowner or a business, Solarbuddy has an extensive list of resources available in your area.

Basic Solar Finance Stucture – Besides cash, here are other ways to finance your solar investment.

  • Federal Tax Incentive – 30% of your system price comes back in the form of a federal tax credit.
  • Depreciation – Businesses can take advantage of accelerated depreciation by going solar. The MACRS schedule allows businesses to claim that depreciation over 5 years vs. up to 50 years like some other capital investments.
  • Solar Loan – With a Solar Loan, the customer is still the owner of the system. Thus they can take advantage of the Federal Tax Incentive and / or depreciation (if they are a business). Terms typically vary from 7-20 years and minimum credit scores range from 640 – 700+
  • Lease (Residential) - Simply put, customers "rent /lease" the panels on their roof from a solar provider. Customers pay a flat monthly fee and the solar provider claims all of the tax benefits and depreciation.
  • Lease (Business)
    • Operating Lease - Similar to a residential lease, customers lease the panels from a solar provider. The lessor claims the tax benefits & depreciation. However, terms are usually shorter than residential leases.
    • Capital Lease - Again, customers lease panels as with an operating lease. However, capital leases allow customers to claim the tax credit and depreciation.
  • PACE Financing -

    Property Assessed Clean Energy. Residential and Business customers finance the cost of solar through the county assessor with an assessment on their property taxes. No credit requirements. Applicants must own the land, be current on their taxes and not have a default on their mortgage. Typically 20 year terms.
  • Power Purchase Agreement - Like a solar lease, customers give up "ownership" of their system and the associated tax benefits in exchange for a lower capital investment. Unlike a lease, customers pay for the POWER that the system produces vs. a flat fee for the panels. Either way, the cost of the power produced is less than the utility company rates and provides ownership options after 7 years (in which no more payments are required).
  • Pre-paid Power Purchase / Lease - Customers "pre-pay" their 20 year lease / PPA payments up front on a discounted basis. The benefit is that the prepaid cost of the system usually amounts to 55%-60% of the retail cost. As with other leases / PPAs, the solar provider still claims the tax benefits including depreciation.
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