Financing the Cost of Solar
Lifestyle Solar knows that cost of setting up a solar system is too expensive for most people
– purchasing a system outright can mean putting down at least $15,000 and up, with an average system cost of $50,000 when you account for miscellaneous expenses. This is why Lifestyle Solar offers flexible financing options to make our systems more affordable and attractive to homeowners:
- Solar Lease – This is by far the most common way for you to get a solar system on your roof. With solar leasing or power purchase agreement, a third-party (in this case, Lifestyle Solar), is responsible for installing and maintaining the system. You pay a fixed rate for the electricity your system produces which is locked in for 20 years. With this method, you skip the up front costs and never have to worry about wild fluctuations in the cost of your energy.
- Mortgages and Loans – Another option is taking out a home equity loan from a bank or energy efficiency mortgage from the federal government to finance the system. While both of these options are viable to get a system on your roof, it needs to be noted that you’ll still have to pay the complete cost up front.
- Solar Equipped Homes – The final option is buying a home that already has a solar system pre-installed.