Going Solar Could Not Be Easier!
Rent to Own
There are several different programs that we offer at A1 Solar Solutions to help people acquire solar with no money out of pocket. Most solar companies offer only two types of solar agreement: ownership and PPA (power purchase agreement). A1 Solar Solutions offers both of those – plus a third method. That method…Rent to own. We believe you should have flexibility in you decision making process so we proudly offer all three options.
While all common solar programs offer the benefits of reducing your carbon footprint, virtually eliminating your current electric bill, establishing predictable payments, and locking in your future electric expenses, rent to own is the most flexible of the three. It’s like driving a car off the lot for a lower lease payment, and then once the car has depreciated, buying it for pennies on the dollar.
Take a look how rent to own stacks up against the other two programs below.
Typically there is no lien, but some of the less popular ownership programs may require you to put up your home as collateral.- Your solar payment will be less than your current electric bill.
- You’ll know exactly what your monthly solar expense will be.
- No need to wait 5 or 10 years or more to break even, monthly savings is more than monthly investment from day one.
- Unlike most or our competitors, our purchase programs include a 25-year maintenance, monitoring, and production guarantee.
- You own the panels and the power they produce from day one.
- You may be eligible for a federal tax credit of up to 30% of the system cost and local rebates where applicable. In 25 states, sales tax incentives typically provide an exemption from the state sales tax (or sales and use tax) for the purchase of a solar energy system. This reduces the upfront costs of a solar installation.
- Studies have concluded owning solar increases a home's resale value. In most states, businesses and homeowners can exclude the added value of a solar system from the valuation of their property for tax purposes.
- Owning solar will save you more money in the long run than a PPA.
- No Lien. Ever.
- Your solar payment will be less than your current electric bill.
- You’ll know exactly what your monthly solar expense will be.
- No need to wait 5 or 10 years or more to break even, monthly savings is more than monthly investment from day one.
- Unlike most or our competitors, our purchase programs include a 25-year maintenance, monitoring, and production guarantee.
- You have the option to purchase panels for pennies on the dollar.
- Instead of paying your utility company a specified rate per kWh you simply pay a lessor rate per kWh for the electricity the panels produce.
- You don’t need to assume any debt to get the system installed.
- Monthly payments are initially the lowest but may have a small annual increase depending on agreement terms.
- Studies have concluded owning solar increases a home's resale value. In most states, businesses and homeowners can exclude the added value of a solar system from the valuation of their property for tax purposes.
- Owning solar will save you more money in the long run than a PPA.
- No Lien.
- Your solar payment will be less than your current electric bill.
- You’ll know exactly what your monthly solar expense will be.
- No need to wait 5 or 10 years or more to break even, monthly savings is more than monthly investment from day one.
- Unlike most or our competitors, our purchase programs include a 25-year maintenance, monitoring, and production guarantee.
- Instead of paying your utility company a specified rate per kWh you simply pay a lessor rate per kWh for the electricity the panels produce.
- You don’t need to assume any debt to get the system installed.
- Monthly payments are initially the lowest but may have a small annual increase depending on agreement terms.
- Studies examining home resale value on PPAs are inconclusive.
Rent to own is perhaps our most appealing option because you can save money on day one and you have the option to buy the solar panels after they have depreciated. What’s the advantage to buying something after it has depreciated?
Take this for example:
Now, say the same exact thing happens but instead of buying the car you entered into a six-year rent-to-own agreement. This option allowed you to buy the car at a cost determined by a third-party appraiser. Using this example, you could continue to rent for the next three years at $300 per month. OR you could buy the car for $6,000 and finance it for the remaining three years at the same rate. Now your payment would drop to $173 per month saving you more than $4,500 compared to purchasing the car from the beginning. That’s a hefty savings!