Solar Loan Savings

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Solar Environmental Savings

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Benefits to Buying Your Solar Energy System

Whether you chose to purchase with cash or through financing, there are a few common benefits applicable to all .

  • As soon as your system is active, you begin paying less to the utility. With appropriately designed systems, in peak months you may not need to buy any power.
  • Your positive environmental impact is the same and also begins the moment you start to use your solar generated power. For every bit of power you generate and consume, you are not requiring a Massachusetts utility to burn a fuel to provide that energy.
  • You are joining a growing public community.
    It is a positive action to both save money and be a part of the renewable energy transition locally and nationally. People will see your contribution.
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When you buy your solar energy system you are rewarded with better financial returns. This may seem like a good trade for making a greater financial commitment.

Like any other significant capital investment, your solar energy system is an asset. It has value, and more than one study has proven that both professional appraisers and home buyers recognize this value. In this way, solar energy is similar options you have to make significant home improvements or upgrades. However, your solar system will also produce something of additional value – the electricity. So over time, it is saving you money while adding value to your home.

Cash Purchase or Financing a Solar Energy System

For the minority of homeowners who have the available cash, a full purchase of your solar energy system can’t be beat. There are no further periodic payments, so your energy savings mean money stays in your back account.

For most homeowners that can afford to purchase a solar system, some form of financing is needed. At SunRa Solar we offer assistance to buyers. Very recently, thanks to state, federal, and even some private programs there are a number of loan options to make buying solar more feasible for a growing number of families. For example, in Massachusetts we take advantage of the Mass Solar Loan Program, administered through the Massachusetts Clean Energy Center (MassCEC). This program helps us help you with some key advtanages:

  • The program requires certain lender and installer qualifications, removing some of the uncertainty for the buyer.
  • The state offers a degree of Income Based Loan Support (IBLS). Contact us for the exact and current details.
  • There are state funded financial mechanisms that help reduce the interest and therefore the homeowner’s monthly payments.
  • Options for secured and unsecured loans.

Qualified lenders within the program are constantly changing. We invite you to request more current information from us by clicking to Contact Us directly.

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SunRa Solar is consistently shopping for the best financing options for our customers. Some may choose to purchase their solar energy system in full. For others, whether you choose to borrow or lease, we partner with some of the most reputable names in the industry. Our goal is to provide each customer with an affordable, turnkey system to meet their expectation and needs.

To get the most up to date information on the latest and greatest financing programs to make solar power more affordable for you, Contact Us here.

The meter is a critical part of the solar energy system. In Massachusetts, net metering allows you to use your utility company to store your energy. Unlike a traditional power meter that spins in one direction, as you produce solar energy, your meter will literally spin backwards. Then, as you use electricity at night, the net meter allows you to pull energy from the grid so you always have power.

Whenever you are generating more power than you can use, the meter tracks the amount that you transmit to the utility grid. This is why a well designed solar system can produce enough power in a summer to help offset more power needed in winter months, when the sun shines less.

Here you can read a little more about net metering.

A solar panel is an assembly of individual solar “cells”, each almost always made from different forms of silicon. Each panel differs in the numbers of cells combined, from 60 to 72 per panel, and in the technology used in the manufacture of each cell and the assembly into a panel.

Because solar panel technology is constantly improving, there are a range of panel efficiency (%) and panel rating (kW) available for design. Not every installation calls for the newest and most expensive technology. Good system design is a balance between cost and performance, and often a well-established and earlier generation panel can deliver 25+ years of affordable, reliable service.

This is why SunRa Solar stays on top of developments and offers panels from a few manufacturers including LG Solar, one of the largest brands represented in Massachusetts, and others.

Every homeowner gets an immediate savings as soon as we flip the switch and you start to generate power. If you sign up to purchase, your agreement will spell out for you each monthly payment.

If you finance some or all of your solar energy system, your savings are easily calculated by comparing the sum of your new payments to your previous bills. If you purchase a system without financing, your monthly utility payments could be negligible.

The best news, whether you purchase outright, finance a purchase, or choose a lease you will be able to predictably bank your savings. Ask us to show you how in more detail by click to Contact Us. Or simply give us a call.

Whether paying cash or borrowing, a homeowner buying a solar energy system can take advantage of the Federal Income Tax Credit (ITC) of 30%.

Homeowners buying solar in Massachusetts are no longer able to accrue and trade Solar Renewable Energy Certificates under the new program program. The Solar Mass SMART. It was known as SREC 2 or SREC II. This program allows homeowners to sell the accrued credits to utilities in blocks of 1 MWh each. To learn more about this program and its current status, visit our Learning Center.

Massachusetts also allows Net Metering, which gives the solar system owner the ability to feed back to the utility grid through a special meter any momentarily generated solar power not needed by the home. Any extra is credited in kWh (kilowatt-hours), the same units you see on your power bill.