, Financing for Home Solar Systems in New Jersey
05/01/2018

Financing for Home Solar Systems in New Jersey

According to the Solar Energy Industries Association (SEIA), solar  now powers more than 371,251 homes in New Jersey.

The total cost to install solar panels, which was once limited to affluent consumers and environmentalists, is more affordable than ever before. The ease and affordability of the installation helps homeowners save on their electricity bills for $0 upfront and often nothing out-of-pocket at all.

New Jersey is among the top 10 states in U.S to harvest the benefits of solar power, and the demand for the best possible solar installation services in the New Jersey market is growing. Understanding all of the options available to you is essential during your decision-making process.

There are 3 financing options that Suntuity Solar has to offer homeowners in the Garden State:

  1. Solar Lease

A solar system lease is a common financing option for homeowners who prefer no upfront costs and a low, fixed payment so you know exactly what you’ll be paying today, tomorrow and the next 20 years. All you collect is the savings.

All benefits include:

  • No upfront costs
  • Lower monthly electric bill
  • System insurance
  • Worry-free maintenance
  • 20-year warranty
  • Fixed monthly payments
  1. Power Purchase Agreements

Another widely used financial option, power purchase agreements allow you to pay only for the power your system produces. Your monthly payment will fluctuate, but it will still remain a low, predictable rate. This is option great for people who want to switch to solar without any upfront cost.

All benefits include:

  • No upfront costs
  • Lower monthly electric bill
  • System insurance
  • Worry-free maintenance
  • 20-year warranty
  • Predictable monthly payments
  1. Self-Financing Solar Loans

Loans are for homeowners that want to purchase their system. Suntuity offers a $0 down loan option that can ease the transition into a reasonable monthly budget. As an added and enormous financial benefit, you can claim 30% of the cost of your system on your federal taxes.

All benefits include:

  • No upfront cost
  • Lower monthly electric bill
  • Low monthly payments
  • Worry-free maintenance
  • 30% federal tax credit
  • Increase the resale value of your home*

If you’re interested in seeing if your home qualifies for solar savings, visit our website at suntuitysolar.com or give us a call at 1-855-SUNTUITY.

Sources:

https://www.seia.org/state-solar-policy/new-jersey-solar

https://www.seia.org/states-map