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Purchasing Solar Energy Becoming the Best Option in Massachusetts

Hardly two years have passed where leasing a solar energy system was the frequently chosen method for many homeowners to go solar. While, there are still circumstances that may favor a lease, the combination of boom-market driven lower costs and increasing financing alternatives means buying solar works for more families in Massachusetts.

Buying solar panels requires an investment and more decision-making than leasing, but over the long term the benefits of owning your system are hard to beat. Paying cash outright or financing through a loan give the owner they most value over the lifetime. A lease is an option for affordability and speed, but this option fits the needs of fewer than it has in the past.

Key Benefits of Solar Energy

There are ways that installing an solar energy system on your home work for you no matter how you acquire it. A few examples include the following:
  • Reducing or eliminating your utility payments and electricity costs.
  • Giving you a greater sense of independence from steadily rising energy prices.
  • Providing years of confidence backed by product warranties.
  • Making a positive contribution to benefit the environment and participating in the transition away from labor intensive fuels.
Once solar panels are installed and the system is in operation, the buyer enjoys these advantages to varying degrees based on they have decided to invest. Competently designed systems of equal size will deliver similar environmental benefits. The economics are different.
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Solar Power Means Savings

Like most major home improvement expenditures, a solar buyer has options to weigh and balance to meet the objectives. When evaluating purchases and leases, the biggest distinctions boil down what fits a budget while giving the most appealing return on the money. Some home renovations may be chosen strictly on need. A solar system assures money savings in all cases.

For purchases, the savings grow over the lifetime of the system. For leases, the savings are slow but steady, but easily calculated. Where monthly budgets are most important, for example, a lease can provide better predictability. A purchase offers certain advantages over a lease:

Leases require third party ownership. The third party retains all of economic incentives. Purchases place the incentives in the hands of the buyer, who is the owner.

A cash purchase requires the biggest up front commitment while providing the largest savings over the life of the purchase.

Most commercial loans offer choices for up front commitment and selectable durations. Lifetime savings are significant.

Leases provide the lowest long term savings with smaller financial commitments.

The Best for Your Home and Family

With a purchase, solar energy does more than offset what is paid to utilities. The systems add value to a home at appraisal and at a point of sale. In Massachusetts, residential solar is booming. This has made everyone more aware and made a solar energy system more desirable. Home buyers more than ever are willing to value an existing solar installation for its ability to reduce monthly electricity spending. And Bay State costs are higher than in most other states, with no reason to expect measurable reductions in the future.

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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.