How Does Croton-on-Hudson Home Solar Financing Work?
When you look at solar as an investment, you’ll quickly realize that it can pay significant dividends over time. The math is relatively simple. Croton-on-Hudson solar saves you money by reducing the amount of electricity that you need to buy from the grid. During the day your panels will send electricity to your home. Excess production can be sent back to the grid to spin your meter in reverse. Over the lifetime of solar panels, savings easily outpace the original cost of installation.
Homeowners who understand this see solar as a priority. However, not every homeowner has the funds available to pay for the installation outright. That’s where home solar financing can help. With the right installer, you can get solar installed without paying a cent upfront.
Learn how Croton-on-Hudson solar loans work at New York Power Solutions, and see how the switch to clean energy is not just possible, but also within reach of the average family.
Split Financing with a Croton-on-Hudson Solar Loan
Our solar loans are provided through Sungage Financial, one of the most experienced solar loan companies in New York. Financing is split into two terms to keep things simple and accessible.
During the consultation process, we will evaluate the solar tax credits and incentives that you qualify for. Incentives typically come off the top of the bill, like the incentive provided by NYSERDA, the state regulator. This means that there will be a discount on the bill before you even look at the final figure. In addition to incentives, there are also solar tax credits available at the State and Federal levels. These are what we will use to create your Croton-on-Hudson solar loan.
- The first part of the loan will be interest-free. This loan will be based on your expected tax credits. Put simply, when you receive your credits, you’ll pay off the first loan. This can knock out a significant chunk of your solar bill. The Federal tax credit is worth an impressive 30% of the total cost of your system.
- The second part of the loan will cover the rest of the bill beyond the tax credits. This can be paid off over a longer period. The specifics will depend on your unique needs. If you want to make higher monthly payments but pay less interest, then it’s possible. If you want your monthly expenses to stay low then you could spread payments over a longer time. We’ll help you to find a balance so that the financing meets your needs. This second loan will be set with a competitive interest rate.
This system works well because it offers flexibility. Once the financing is paid off, all the savings created by solar will go into your pocket.
Do You Qualify for Home Solar Financing?
Most homeowners can qualify for a home solar loan in Westchester County. Generally, if you have a good credit score, then you’ll have no problem getting financing through Sungage.
Solar isn’t just an investment in terms of the money it can save. It can also increase the value and desirability of your home. Most buyers today prefer a home with solar panels because it’s one less thing that they need to improve on the home. Solar panels last around 25 to 30 years on most rooftops. Even if you aren’t thinking about selling today, having the panels on your roof can still benefit you in five, ten, or even fifteen years.
Get a Free Solar Estimate in Westchester County
The best part about all of this is that there’s absolutely no risk in learning more. You can get a free solar estimate in Westchester County, including an on-site inspection and cost/benefit evaluation. You’ll learn about the viability of solar as an investment, with a clear indication of the possible returns.
Home solar financing can help you achieve your dream of having a more sustainable home that saves you money. New York Power Solutions is ready to get started on your project today.