Residential Financing For Solar Energy Systems

Energy Efficiency Mortgages

In order to help you choose the right loan for the purchase and installation costs of a solar photovoltaic or solar hot water system, we will provide you with information about FHA and/or VA energy efficient mortgages and determine which you qualify for so you can full advantage of all the federal tax deductions you are entitled to. Fannie Mae, the EPA through its ENERGY STAR program and many more financial institutions are also offering products specifically designed for solar energy systems.

The US Department of Energy publishes a consumer guide for financing solar energy systems that describes many of the various resources available to finance residential solar power systems. In example, Fannie Mae is offering unsecured Energy loans up $15,000 with terms upt to 10 years for the purchase of photovoltaic, solar water and space heating upgrades. Freddie Mac is offering up 10% above base loan amounts to $240,000 for energy efficient mortages.

To obtain a PDF version of the guide go here or click here to contact one of financing experts. There is no cost or obligation.

In addtion, our custom Power Purchase Agreement(PPA) based financing can cut the cost of solar by 50% and provide an immediate pay back on solar power at a significantly reduced rate. For more information on PPA financing click here

We are are always looking for highly qualified sales engineers and tech support staff. If you are an experienced installer, a graduate of a comprehensive solar training program, or a veteran of the renewable energy industry who would like to talk to us about joining the Everlast Solar team, please contact our Director of Human Resources.

Commercial Financing Options for Solar Energy Systems

In addition to financing their purchase of a photovoltaic system using traditional forms of financing, such as long-term debt, operating leases, bank loans, home improvement loans and mortgage refinancing.Many companies and government entities are choosing to go solar through a power purchase agreement or a PPA. A PPA is a long-term agreement to buy power from a separate company that finances and owns the solar system and then sells the end-user the electricity generated by the system. The same PPA partner maintains and operates the solar power system, typically for 15 years or more at no added cost to the buyer.

In purchasing, operating and maintaining the solar system, the PPA partner assumes all the risks and responsibilities of ownership. PPAs require no up-front capital, have no maintenance work or risk and they stabilize electrical cost at rates often below current market rates. At the end of the PPA term you can either purchase the solar system at fair market value or extend the PPA.

With a PPA you reap all the advantages of going solar, from lower electricity costs to public relations benefits, while conserving precious capital for other needs and opportunities.

Rebate Information

There are currently a growing number of federal and state solar power incentive programs. In example, in January 2007, the state of California implememted the California Solar Initiative, which authorized the Public Utilities Commission to oversee a $2.5 Billion rebate program for existing residential customers. Southern California Edison and Pacific Gas & Electric rebate $2.50 per delivered watt, or more than 25% of the total system cost. This rebate is schedualed to decline by $0.30 each time specific benchmarks are met.

In addition to this rebate, there is a Federal tax credit of $2000 fo renewable energy systems after rebates that applies directly against your income tax.

For business there is also a 30% Federal Investment Tax Credit that can be carried forward 15 years or back three and an accellerated five-year depreciation schedual.

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