Creative Solar Finance Options

The United States Recovery Act has been bolstering up solar after the 2008 market slide (due to the world-wide recession). This is partially due to new solar financing options.

Advanced Green Technologies is working hard to put solar panels in with business owners. They are offering a 0-0-3 program, no down payment and interest free for 3 months. This would allow business owners to purchase a solar system, take advantage of tax credits, and pay down the loan before interest payments begin.

Tennessee Valley AUthority proposed adding nuclear reactors, but it is warming up to solar. It created a program, TVA’s Generation Partners program, which will provide a $1,000 incentive for small solar projects. It has also guaranteed a price for buying excess electricity.

California started it’s PACE program, allowing homeowners to pay back the city for a solar installation through property taxes.

When homeowners meet specific criteria, solar can be added to a mortgage during a refinance. This will decrease interest rates and increase the return on investment (ROI) of a solar system.

Solar finance are starting to pop up all over the United States to encourage deployment of photovoltaics. Solar panels provide renewable, reliable electricity with no emissions after production and no moving parts. They have a 20-30 year electricity production warranty (and will continue to produce electricity for decades after that).

With these types of programs, it is inevitable that the price of solar will continue to decrease as demand for cheaper renewable energy grows stronger every year. Solar is poised to explode with economic recovery in the near future.

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