How to Pay for Your Solar System
There are a number of ways to pay for your solar system, from cash to loans to leases and for commercial customers, power purchase agreements.
For homeowners, paying cash for your system has the shortest return on investment. The total cost of your system can be directly offset by substantial federal tax credits and other local utility incentives or rebates, dependent on location. Luminalt is happy to assist with the paperwork to gain the maximum return on your cash investment.
Through our partnership with SunPower, Luminalt also offers SunPower solar loans. A solar loan allows the owner to take the federal income tax credit, and you can pre-pay the loan without penalty.
Luminalt does not offer leases. Leases involve a third-party owning the solar system. That third-party investor takes the tax credit. Unlike a homeowner, a third-party investor has to own the solar system for a number of years to be able to benefit from the tax credit. This means that if you sell your building within this period, the new owner must take over the lease agreement to preserve that tax credit for the investor.
If you live in the PG&E area, you can calculate your potential savings from solar.