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Financial Considerations for Residential Solar

How much does a solar power system cost?

It’s now easier and more affordable than ever to go solar.  There is no better way for you to maximize the return on your solar investment and increase the resale potential on your home than with a home solar system installed by SolarCraft. Plus, a solar electric system is exempt from increased property tax assessment!  It is good for your pocketbook and protects you from increasing energy costs.

Solar Incentives & Rebates

Current solar rebate and incentive programs continue to offer savings to homeowners and businesses alike. As a full-service Solar Integrator, SolarCraft will guide you through the process and handle paperwork from permits to rebates.

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Federal Tax Credit

The Investment Tax Credit (ITC) allows you to deduct 30% of the cost of your solar system on your taxes. This credit can be rolled over to future years to ensure that you get the full 30%.

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Local Financial Incentives

There are many local financial incentives available throughout California, including possible state rebates. The rebates available depend on a number of factors. Learn more about rebates available in your area.

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California Net Metering

California’s net metering law allows residential users to get PG&E credit for extra electricity produced by their solar panels at peak retail prices during the day and draw from the grid during the night, at lower off-peak rates.

How to Buy Solar Panels for your Home

SolarCraft offers a variety of purchasing options, including great financing programs where you can go solar for as little as $0 down. Start today and save tomorrow with a home solar electric system from SolarCraft:

  • Cash Purchase: Maximize your return on investment by avoiding any interest or administrative fees associated with other financing methods. You own the system and get the 30% Federal Tax.
  • Solar Lease: Usually low or no upfront investment, however you forfeit the tax credit and leasing contracts usually include escalating payments.  A solar lease also complicates home resell or refinance.
  • Solar Loan: Get great loan terms to install a solar electric system that you will own. Flexible 10, 15, or 25-year loan terms. Once you’ve recouped the costs, you get free electricity for the life of the system, 25+ years.
  • Home Equity Loan: Allows possible deduction of the interest from one’s personal income taxes, thereby reducing the interest or making the loan interest free. Additionally, the loan pays cash upfront in one lump sum, allowing you to buy the solar photovoltaic system outright.
  • Power Purchase Agreement (PPA): Similar to a lease where the system is owned by a third party. You don’t pay for the solar panels, only for the electricity that the solar power system generates.
  • SCEIP (Sonoma County Only): Under the SCEIP program, the county will finance the cost of the system and the homeowner pays the money back through property taxes.
  • PACE Program (Property Assessed Clean Energy) Financing: Similar to SCEIP, participating cities will finance the cost of the system, which is paid back through property taxes.