Solar Electric (Photovoltaics)
New to solar and considering a solar electric system? Consider a Hybrid System!
Solar Living can design and install a solar electric (PV) system on your home or business which will save you money every month on your electric bill, produce clean energy for your home or business and give you the satisfaction that you are doing something beneficial for the environment. Through a site visit, analysis of your electric bills, and often times an energy consultation, we will determine the size and type of PV system that will maximize your available roof space and your savings. Traditional battery storage systems are available, but with New Jersey and New York rebate and net-metering incentives being what they are, grid-tied PV systems will offer the fastest payback.
There are several ways to obtain a solar electric system for your home, each having benefits.
Free solar is typically a solar energy Power Purchase (PPA) or Lease. You own nothing, which is why it is free. The company who offers you these choices owns the equipment and a lien on your home for 20+ years.
Cons For Lease/PPA:
- You own nothing
- Liability vs. Asset
- 3rd party at the closing table when you go to sell your house
- Very lengthy contract details and fine print (You better learn what works against you when you want to sell, improve your home or need a new roof)
- Net savings amounts to very little each month
- 20+ year term
Ownership / Financing
Use the bank’s money to OWN your system. You can get a loan to pay for a system that you own. The annual savings are comparable to a lease/PPA with no money out of pocket.
“Better than free” because you use no out of pocket money and your Federal Tax Credit, utility savings and system revenue cover the annual payment PLUS an additional savings for a much shorter term.
Pros For Ownership:
- Asset vs. liability
- You get the tax credit
- You get the revenue
- 12 year loan term vs. 20+ year lease
- Simple contract vs. dozens of pages for a Lease/PPA
- Nobody else at your closing table
- Sell your home and take the panels with you to your new place
- American made products and custom design to best meet your needs
If Solar Modules Fail
Solar Hot Water or PV?
Costs & Benefits of Each