Find Out How Much You Could Be Saving!
Use the calculator below to find out how much you could be saving on your energy costs.
Solar & Energy Efficiency Financing Options
Find The Best Financing For You
Different customers have different financing needs. At Solare Energy, we provide a wide range of attractive financing options. We work with customers to help them understand the details of each financing option and help them select the best one for them.
Cash is the payment option that will typically provide the largest savings over the long term. You don’t pay interest. You also own the solar system and will capture the electric bill savings for up to 40 years. Most customers that pay cash withdraw the funds from a savings account, a certificate of deposit, a brokerage account, or a 401k (It is always a good idea to consult with your financial advisor regarding the best source of cash).
Home Equity Financing
$0 down home equity financing based on home equity line of credit with 20 year term (first 10 years interest only). Includes interest tax deduction benefit based on 37% marginal tax rate. Loan up to 80% of home value. Variable rate starting at 5.75% (Prime + 2.5%) for FICO 700-800. Higher rate for FICO 620-700. Other charges and conditions might apply.
Unsecured Financing (No Home Equity Required)
$0 down unsecured loans. Up to $50,000. Our most popular option is a 1.89% fixed rate loan for 12 years for FICO 720 or above (through our partnership with various local credit unions and banks). Higher rate for FICO 650-719. Other charges and conditions might apply.
Solar Lease Option
While leases tend to have lower savings in comparison to purchases, in some situations, this is the best option for the homeowner. The system is installed by Solare Energy and owned by a third-party leasing company.
$0 down, 25 year system lease, with lease payment escalating 2.9% per year. After 25 year period, homeowner has option to renew lease in 5 year increments, buy system at fair market value, or have system removed at no cost.
Pre-paid Power Purchase Agreement (PPA)
25 year power purchase agreement, where the homeowner is paying upfront for the electricity to be produced by the solar system. The system will be installed by Solare Energy and will be owned by the financing company who will take the commercial government incentives. Allows homeowners to go solar for less up-front than buying system in cash and with full 25 year monitoring, maintenance and performance coverage. Flexible options at end of term: have financing company take the system away at no cost or buy the system at fair market value and continue saving on your electricity.
Power Purchase Agreement (PPA)
$0 down, 25 year power purchase agreement, escalating 2.9% per year. After 25 year period, homeowner has option to renew agreement, buy system at fair market value, or have system removed at no cost.
Ygrene Financing Model
Ygrene, now available in most areas throughout San Diego County, allows property owners to finance projects without finding their own loans in a difficult market. Ygrene offers a revolutionary way to finance clean energy projects. Key advantages to the program include:
- Your personal credit score has no impact on funding eligibility or interest rate
- Eligibility is determined quickly and easily through an online search with Ygrene’s funding management system
- Funding is paid back over a long period of time and does not carry a balloon payment
- The project debt does not have to be paid off upon property sale or transfer
HERO Financing Program
HERO is the #1 energy efficiency financing program in the United States and is available in many areas throughout San Diego County. HERO partners with local governments to make energy efficient, water efficient, and renewable energy products more affordable for homeowners. HERO finances 100% of the cost and offers low-fixed interest rates, flexible payment terms, and repayments are made through your property taxes. Additionally, if the property is sold before the HERO Financing is paid in full, the remaining payments can be easily passed on to a new property owner.
California FIRST Financing Program
Available to homeowners in most areas of San Diego County, property assessed clean energy programs such as California FIRST allow homeowners to go solar or make other energy efficient home improvements with no money down, regardless of credit. Contact Solare Energy and we’ll help you determine if this program is your best option for going solar.