Millions of people are saving money and making a change for the greater good of our planet, as solar power continues to sweep the nation and become the innovation of the 21st century. As a homeowner who wants to be part of the clean energy revolution, you may be asking, “What is the ultimate cost of transitioning to solar power? What will solar panels look like on my home? And what are the requirements needed for installation?” Not surprisingly, you are in good company, as these are some of the most common questions prospective customers ask industry experts. The good news is that, Kayo Energy has the answers, and we want to provide you with the extra details on your seamless transition to solar energy, as you make this important and positive decision for your wallet, home and our world.
Cost: Do solar panels need to be paid for up-front?
Absolutely not. As long as your credit is fair to good, there is no need to stress about paying upfront costs of solar installation all at-once. In fact, you can often finance your solar panel investment without a down payment, and immediately begin your journey to enjoying the benefits of clean and renewable energy.
When it comes to financing your solar panels, Kayo Energy is proud to offer you with multiple, customized to fit your particular situation. We have partnered with some of the most exceptional financial companies within the industry, who focus on helping all of our customers find the best solar plan that fits your individual needs and goals (it’s important to note that most solar companies have similar options depending on your area).
An example of such options include:
Purchasing: One of the great benefits of purchasing your solar panels upfront is that you are automatically qualified for a federal tax credit; in addition to qualifying for any local and state tax credits, applicable to your area. All of these credits are yours, in addition to the annual savings you will gain from your utility bill. You also have full ownership of your solar panels!
Credit Needed: Not Applicable
Loans: Financing solar panels is the most common option we see, as many customers opt to pay for their solar panels over time. This option is available upon credit approval, and one of the great benefits is that you still qualify for the same federal, state and local tax credits as the purchasing options! These solar loans also provide each customer with detailed calculations that demonstrate your long-term utility savings.
Credit Needed: Fair – Excellent
Leasing: You have the option to lease out your solar panels with your solar provider. In place of buying the panels, you will pay a low monthly payment based on the amount of energy projected to be used over an annual time-frame. The solar panels will be owned and provided by your solar provider (so no worries about up-front costs).
Credit Needed: Good – Excellent
Power Purchase Agreement (PPA): Similar to the leasing option, with a PPA there is no worrying about upfront costs; as the solar panels will be financed, owned, and provided by your solar provider in a similar way as the leasing process. One of the benefits of a PPA is that you pay your solar provider a low rate for the energy produced by your panels rather than paying the higher costs of your electricity company, as you reap the benefits of reduced energy output. This puts more of your hard-earned money back in your wallet.
Credit Needed: Good – Excellent
We love to help our customers as you further contemplate this decision, and we welcome you to get a free custom estimate with Kayo Energy’s estimator tool powered by Google Project Sunroof. This tool will provide you with an estimate on what solar looks like for your home, in addition to providing you with an option to get in touch with a Kayo Energy representative who can address any of your questions and needs.
As you consult with your Kayo Energy representatives, please be sure to ask us any questions you may have regarding your interests and available options. Also, please keep in mind that all financing options will be presented to you upon credit approval.
Finally, if you have any other questions, please give us a call at 1-855-GO-4-KAYO or send us an email at info@kayoenergy.com. We are happy to help, anyway that we can.
Let’s do good and save money, together!