Affordable Ways Of Installing Solar Panels
Solar Purchase is buying the panels outright so you own the full rights to them. This is a big advantage as all profits go to you, the sole owner. In addition, if you produce more energy than you use, you can actually make residual monthly income.
A solar loan is when you finance the solar panels by making monthly payments until the panels are paid up in full. Although in the beginning you still have a monthly bill plus a (reduced) electric bill, eventually you will own the solar system on your roof with the potential to really save a lot on your utility bill. Solar financing is available upon request with a minimum credit score requirement.
A solar lease is when you lease the panels from the developer who puts them up for you for a set monthly fee. The advantage of this route is that you know exactly how much your utilities will cost you monthly. The downside is that at the end of the leasing period you do not own the solar panels. The biggest advantage of leasing solar panels is that there is no initial money down.
A Power Purchase Agreement is when a developer puts solar panels on your property and then sells you the power it produces at a lower rate than your utility company. This ensures that you only pay for what you use but at a discounted rate. At the end though, you will not own the solar system on your property. The advantage of PPA is there is no initial down payment needed.
Newark, NJ