01/27/2022
PSA: When considering a solar system for your home, PLEASE SHOP AROUND, get at least 2 quotes!! There are many companies out there that offer a very low interest rate when they lease you a system, which looks great on paper, but do your homework. These companies are giving you a lower interest rate than your bank but charging thousands of dollars more then a purchased system so you end up paying out a lot more for your system. Some of these companies also get to use your 26 federal income tax credit because they "own" your system. Also, make sure you ask about Renewable Energy Credits, this is another way leasing companies are making money off of your system. A REC is 1,000 kWh that your system produces BEFORE your home uses the power, these credits are sold thru a broker to large electricity producers, as the law states that all producers must produce with a certain percentage of renewable energy. Meaning, homeowners are helping to produce the required power so the homeowner gets paid back for that. We have sadly had many customers call us that have already had leasing companies install and there isnt any way for us to help them as they are contract bound but they are receiving none of the benefits of their solar system, other then cutting their electric bill, but their lease payment ends up being more then their electric bill would be. So always shop around and do your homework!! Have a great day and give us a call if you have any questions or would like a quote 717.337.9898
