If you just purchased your first home, first of all, congratulations! Buying a home is no small feat and immediately planning your home’s upgrades may feel overwhelming–but we’re here to help! When it comes to solar, we think it’s a great upgrade for first-time homebuyers because solar saves you money in the long run and increases your home value. We’ve laid out some key questions to answer when making the decision to go solar as a first-time homebuyer.
Continue readingCategory Archives: Solar Financing
How do I claim the solar tax credit (ITC)? Form 5695 instructions
If you’re considering solar, you’ve probably heard about the federal solar tax credit, also known as the federal Investment Tax Credit (ITC). If you have a solar system on your property, you’ve probably heard about the federal solar tax credit, also known as the federal Investment Tax Credit (ITC). The ITC makes solar more affordable for homeowners and businesses by granting a dollar-for-dollar tax deduction equal to 26% of the total cost of a solar energy system. There’s plenty of information out there about the value of the ITC, but figuring out how to actually claim the credit when it comes time to file your taxes is another story. In this article, we’ll walk you through the instructions step by step from figuring out if you’re eligible to completing Form 5695 to adding it to Schedule 3 and Form 1040.
Continue readingHow are solar companies making it easier to go solar during the COVID pandemic?
Investing in solar is a big financial decision no matter the state of the economy. As everyone around the country (and the world) grapple with the ongoing health and economic impacts of the novel coronavirus pandemic, the question of whether it’s the right time to go solar has become harder to answer financially for many homeowners. With that in mind, a number of solar companies throughout the country introduced new programs to help make paying for solar easier for people who install solar today.
Continue readingZero-down solar financing options: which is best for you?
Installing solar at your home or business has significant financial benefits. In many cases, you can choose a zero down solar financing option and install your system without paying any money up front, leading to instant savings. In this article, we will examine the various options for $0 down solar and the merit of each option.
Continue readingFinancing solar with a home equity loan
As you’re comparing your solar options, one of the biggest decisions you’ll need to make is how you’ll pay for your system. Fortunately, there are many accessible financing options available for those looking to install solar with little–or no–money upfront.
Given the number of solar financing options and the differences between them, we often get questions about the pros and cons of certain loans – truthfully, every financing solution has both. In this article, we’ll give you a quick overview of factors to consider with one common solar financing option: home equity loans.
Continue readingYgrene Energy Fund financing: everything you need to know
Thanks to the expansion of solar financing options, it’s easier than ever for homeowners and businesses to buy and install a solar panel system. Across the country, more than half of all new solar installations are bought in cash, with a solar loan, or through a specialty financing option.
Continue readingWhat is PACE financing for home solar power?
If you want to install a solar energy system on your property, one of the first questions you’ve probably asked is, “How will I pay for it?” There are many financing options available today for homeowners who want to enjoy the benefits of solar. In many areas, an increasingly popular option for home energy improvements like solar is Property Assessed Clean Energy (PACE) financing.
Continue readingQ&A with Sungage Financial
When making the switch to solar, many EnergySage shoppers end up financing their installation with a loan from Sungage Financial. Based in Boston, Massachusetts, Sungage currently provides financing solutions through their partner installer network in 33 states and Washington D.C. EnergySage conducted a Q&A with Mike Gilroy, Sungage CEO, to learn more about their company, what customers should consider when choosing a solar loan, and how they differ from other specialized solar lenders.
Continue readingSolar financier partnerships: what you need to know
One of the most important choices to make as you’re going solar is which installation company to work with. Online reviews, industry certifications, years in business, and equipment manufacturer endorsements are just a few ways to gauge the reputation and experience of one company over another. If you’re planning on financing a system with a solar loan, it’s a good idea to keep an eye out for any partnerships with loan financiers, as they can be another indicator of a company’s credibility.
Continue readingThe Lowtility solar + home loan product: the complete review
Buying a house is a major investment that comes with many long-term variables to consider, including location, home style, sales price, and monthly utility bills. During the process of applying for a home mortgage, new buyers may also have the opportunity to think about other large home improvement investments that they would like to make once they move in to either increase the value of their home or decrease their monthly homeownership costs. The new solar + home loan from Lowtility is a unique option for home buyers looking to do just that by financing both a house purchase and a solar energy system installation all at once.
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