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Loan to Own
Posted by David Levine on Feb 3, 2015
Cut your electric bills and increase your home value without spending a penny by financing the construction of a solar energy system on your roof.

Big electric utilities and independent power producers finance the construction of massive coal, nuclear and natural gas power plants with your money. To pay for these investments, they keep raising your utility rates.

Now, you can play the same game. By financing the construction of a solar power plant on your roof, your reduce your electric bills, pay down the loan with a portion of your savings and then generate free, clean energy once your loan is paid off. And on top of all this, you increase the value of your home!

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This might seem too good to be true.

The reasons are simple. The savings on your electricity costs with cleaner, less expensive solar power, more than offset the loan payments that finance the solar installation.

In some parts of the country, you may also be able to reduce your monthly electric bill with a “solar lease” or “power purchase agreement” (“PPA.”). Like a solar loan, leases and PPA have no upfront costs. But, the financing for leases and PPA’s is more expensive, so you save less money. And, because you don’t own the system, your home won’t increase in value. If you sell your home, leases and PPAs can be difficult to transfer to the buyer.

With a solar loan, you gain these additional benefits of solar ownership:

1. YOU KEEP THE GOVERNMENT INCENTIVES. When you own the system, you’re eligible for a federal tax credit of up to 30% of the value of your system. Your state or local government, or your utility, may offer additional up-front incentives in the form of credits or rebates. When you finance with a lease or PPA, you don’t get those incentives, the financing company does.

2. YOUR SOLAR ENERGY COSTS WILL NEVER INCREASE. You’ll pay a low fixed monthly rate for your solar loan that will never increase. In contrast, leases and PPAs often contain “escalators” that make your monthly payments go up every year, just like your utility bill!

3. ONCE YOUR LOAN IS PAID, YOUR ELECTRICITY IS FREE! Once you pay off the loan using the savings on your utility bills, you’ll have free energy for years to come. With a lease or PPA, you never stop paying for your solar energy.

4. YOU KEEP THE PROCEEDS FROM THE SALE OF THE ELECTRICITY YOU PRODUCE. In some states, you’re paid for the electricity your system generates, which increases your savings even more. But with a lease or PPA, the financing company keeps the proceeds.

Finally, you can own with confidence. Because they have no moving parts, home solar energy systems are incredibly durable and are virtually maintenance-free. Plus, you’re protected by a 25-year warranty on equipment and a 10-year workmanship warranty.

Loan to Own gives you: day one savings, lower monthly payments that are locked in, growing equity, and no worry.

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