Over 85% of homeowners choose to finance their solar project through one of our financing partners, and it’s for a good reason. Solar Is Freedom has partnered with the top solar lenders in the country and has access to dozens of loan products with terms ranging anywhere from 12 months to 25 years. The most popular loan product allows homeowners to go solar for no additional out of pocket expense, period. Here’s how it works:
The monthly loan payment is equivalent to (and sometimes less than) the amount of money you save on your monthly electric bill right from the start. The best part about it is there is no down payment required and the first payment on the loan isn’t until after the system has been installed. The loan is specifically customized for solar homeowners so that by the time the homeowner receives their first loan payment, they are also receiving their first electric bill that has been reduced by the amount their loan payment is. Therefore, the homeowner has made the transition from renting their electricity from their utility to owning renewable energy for no additional cost!
For example, Jane Doe has a monthly electric bill of $200 and Solar Is Freedom is able to cover 90% of Jane’s electric bill, saving her roughly $180 per month. Through Solar Is Freedom’s financing partner, Jane is able to go solar with no down payment, and her fixed solar payment is $180 per month. Since her first solar payment isn’t due until after the system is installed, by the time she receives her first bill of $180 she has already saved that amount on her most recent electric bill, so she hasn’t spent a dollar more than she would have if she had continued to get 100% of her energy from her utility. By choosing to go solar, Jane is locking in the rate for 90% of her electricity needs and is protected from rising utility rates. On top of that, every time Jane makes a monthly payment it is going towards equity and has an end date unlike the never-ending expense to your utility.
Through 2019, the federal government is offering a 30% rebate on the total cost of a solar install. This is a huge help to many of our homeowners and makes it very affordable. The main incentive in Ohio is of course Net Metering (process explained below). State and local incentives include may also be included, such as a property tax freeze in Ohio, Indiana, and Kentucky.
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