How To Get It

Let me say it up front: Solar electric systems aren't cheap. Over time, they can be a great investment. But depending on you're goals, your energy usage, and where you are, the initial outlay for a large residential system can be up to $60,000 or more.

Purchasing Solar

Cash, loans, leases, power purchase agreements, etc. don't change the fact that you're purchasing a photovoltaic system. The difference is in the cost and service level. 

Cash

As is usually the case, paying cash is the best deal for you. You reap all the benefits of rebates and incentives, your system pays off the fastest, and you aren't tied to a 20 year legal agreement to pay a loan/service company. 

You also get the responsibility of maintaining the system (which mostly consists of spraying the panels off with a hose a couple time a year). 

If a component fails (rare but not unheard of), you or your contractor will need to fill out paperwork etc to have a replacement sent (most panels and inverters have 10 to 25 year warranties), and change out the bad part.

Good solar contractors will guarantee the quality of their labor for a reasonable amount of time, will take care of all the permits and applications, and many will maintain the system for a small fee.

Loans

The only difference here is cost. You get rebates, incentives, and maintenance, but you're system payoff time gets longer since now you're paying loan fees. Some banks are offering low rates on loans for PV systems.

Leases

Several full service solar companies are offering leases, and now leases are available directly through solar installers, energy companies, or even directly from banks. 

There are different service levels available at different costs, but most include the installation (either by their own crews or by subcontractors), maintenance, and cost of repairs if necessary. The biggest draw for leases is the no money down aspect.

A "power purchase agreement", or PPA, is very similar to a lease except that you pay a fixed price per kilowatt-hour (kWh) produced versus a fixed rate lease. Both rates usually increase over time.

Leasing is the most expensive option in the long run, and is essentially adding an additional power company to your bill schedule. You also lose your ability to choose your own contractor, and often have to deal with pushy sales people.



PV systems, properly installed with quality components in the first place, are known to operate without major problems for over 30 years, so despite the promise of a hassle-free experience (they never are when you're dealing with construction), don't let yourself be rushed into a long-term contract. It never hurt anyone to spend a little time considering the options.

One more thing: these systems do pay themselves off, sometimes after only a few years. It's the main reason banks are motived to lease them. 

In fact, for the opportunity to win your business, West Delta will give you a free analysis, working directly with you to size your system and tell you how long until it pays for itself.