New Financing: PPAs and Subsidized Loans

Posted by | August 11, 2011 | General | No Comments

San Diego, CA, August 11, 2011. Installing solar panels in San Diego and making energy efficiency upgrades to homes with Solare Energy just got even easier and lower in cost. San Diego solar installer Solare Energy is introducing two new solar power financing options, a Purchasing Power Agreement and a subsidized low interest long term loan.



The Purchasing Power Agreement, or PPA, allows homeowners to buy electricity at $0.18 to $0.23 per kWh from the solar PPA provider, instead of paying SDG&E $0.30 to $0.32/kWh. That is a savings of 23% to 44%. As rates go up over time, the savings also increase. The PPA provider will install the solar panels on the homeowners roof and sign a 20 yr agreement with the homeowner to supply solar power at the low predetermined rate. All of this allows homeowners to start saving money immediately on their electricity bills, lock in their electricity cost for the next 20 years, and see their savings grow over time, all of this with $0 down.



For those customers who would rather own the solar power system, Solare Energy is introducing a new loan that is subsidized with stimulus funding from the American Recovery and Reinvestment Act. This loan has a fixed 3% rate and a 15 year term, and is available to homeowners in San Diego County.



“Solare Energy continues to work hard to bring the benefits and savings of solar systems to a broader market,” said Jose Luis Contreras, President of Solare Energy. “Over the last five years, most solar customers paid cash; the ones that financed were using high cost financing that took away most of their savings. Now, customers can install solar systems and energy efficiency upgrades with no money down and still get to enjoy the savings.”



John Davis, VP of Energy Assessments and Sales said “With our new financing options, homeowners that have a low average monthly bill in the $80-$150 range can now go solar with no money down and save money from day one. Customers with a higher bill will now save even more. About 8,000 homeowners have installed solar power systems in San Diego over the last five years. With financing options like these and electric rates continuing to skyrocket, we expect that number to grow exponentially over the next few years.”



About Solare Energy

Established in 1989, Solare Energy is one of the largest installers of solar panels and energy efficiency systems in San Diego County. Solare Energy has unmatched contracting experience in the installation of solar photovoltaic (PV), solar water heating, solar pool heating, lighting, air sealing, duct sealing, heating, air conditioning, and pool pump systems. The company has a B (General) and C-10 (Electrical) contractor license #941109. For more information about Solare Energy and their financing options, please visit www.SolareEnergy.com/financing-options or call 800-411-SOLAR.

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