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What Are My Financing Options for a Solar Panel Installation in Harrisburg PA?

What Are My Financing Options for a Solar Panel Installation in Harrisburg PA?

skyline of Harrisburg indicating solar panel installation in Harrisburg PA

Going solar is a highly beneficial decision that will save you money on your monthly energy bill while reducing your carbon footprint. With traditional energy sources like coal, oil, and gas beginning to dissipate and solar technologies rapidly advancing, converting to clean and renewable solar energy is quickly becoming the more intelligent decision. Thankfully, solar panel installation in Harrisburg PA has never been easier to finance. With various payment plans such as a solar purchase, solar loan, and solar power purchase agreements, those wishing to convert to solar energy are sure to find a plan that works for them.

Purchase

The first way to pay for your solar panel installation in Harrisburg PA is with an outright purchase of your solar system with a single payment. Using the purchase option means you will immediately own your solar system as well as the energy it produces. Those who chose to purchase their solar system will instantly begin saving on their monthly energy bill. By deciding to purchase, you avoid paying interest on a solar loan and you will own all of the energy produced by your system. A solar purchase is usually the least expensive option because it avoids having to pay interest on a loan. However, if paying for your solar panels upfront is not for you, other options exist to assist you in converting to green, solar energy.

Solar Loan

A solar loan allows those with financial restrictions to be able to afford their solar panel installation by making monthly payments towards their system. A solar loan is a fantastic option for someone who doesn’t want to make a solar purchase but is still interested in having the eventual ownership of their solar panels. With a solar loan, monthly payments are made until the solar panels are paid off plus interest, resulting in full ownership. Tax breaks are another attractive feature of a solar loan and will assist as a cost reducer. Finally, there is the option to put $0 down on your solar panel installation. Pair all of these benefits together and a solar loan becomes highly advantageous and available to almost everyone.

Solar Lease or Power Purchase Agreement

If financing or purchasing a solar system doesn’t interest you but the monthly energy savings and reduced carbon footprint do, a solar power purchase agreement is for you. Also known as a solar lease or a solar PPA, is when a developer handles the design, financing, permitting, and installation of the solar system at little to no cost to the customer. Rather than paying a monthly payment towards the solar system, like with a solar loan, customers will pay a predictable monthly payment for the power generated by the solar panels at a fixed rate of Kilowatts per hour. The rates for a solar PPA are usually a great deal lower than the rates for energy by local utilities which means you will save on energy costs while running your home on clean and renewable solar energy.

Choose Experts for Your Solar Panel Installation in Harrisburg PA

With the varying ways to finance your solar installation panel in Harrisburg PA, there is no reason not to make the smart choice in converting your residence to one that uses clean and renewable solar energy. If you want immediate ownership of your solar panels, explore the purchasing option. If you are interested in the eventual ownership of your system but don’t want to pay for it upfront, a solar loan might be for you. If you want to pay close to nothing, yet still receive discounted energy, a solar PPA is recommended. Switching to solar has never been easier and more affordable. To discuss which solar financing option is right for you, contact Lumina Solar to get in touch with one of our solar representatives and begin tailoring your solar plan today! Still not sure? Take a look at our reviews and see what past clients have to say about working with Lumina Solar.

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