Have the System You Need Today and Pay For It Later!
It’s not just a catchy phrase. Solar electric systems are long term investments that take 5-10 years to fully recoup an upfront investment. Now with the ability to finance these systems you can take full advantage of “Replaced Cost Financing”.
In a nutshell, the PV system is financed 100%, either secured by property or the equipment itself. The terms are dependant upon the current rates and the monthly payment is usually about 60% of what you are currently paying for monthly electric bills. That is coupled with the fact that the PV system can ZERO your utility bill and all of a sudden you are CASH POSITIVE the first month of ownership.
Different financing products are available and custom tailored to meet individual financial needs of every client. There are loans secure by property, which are the lowest cost and can have the longest terms. There are also business equipment leases secured only by the equipment. These tend to have a little higher interest rate as well as a shorter term, but more clients will qualify and do not need to have any property equity to do so, such as leased office space. These loans usually feature a $1 equipment buyout and have certain tax advantages attached.
Whatever your financial needs, chances are that we can help you obtain financing, and on excellent terms. Most commercial, and about half of our residential projects are financed.
Net Metering and How it Works
Grid-connected solar energy systems produce electricity in parallel with the electrical utility, and can feed power back into the utility grid if all of the electricity isn’t used on site.
California’s net metering law allows residential and business users to sell their extra electricity back to the grid (PG&E) at retail prices during the day and draw from the grid during the night. During the day, the electric meter spins backwards as it registers excess energy. At night, or during off-peak producing times, the electric meter spins forward as it returns electricity from the grid into the customer’s home or business.
PG&E’s standard net energy metering program offers customers the opportunity to get credit for the electricity they have produced in excess of the amount that they have used within a given month. The credit appears on the customer’s monthly utility statement, and is applied to electricity-related charges within each 12-month reconciliation period.