Oftentimes, people refrain from getting a new solar system installed on their home because they are worried they aren’t going to be able to afford the added cost. They think there is no way they can come up with thousands of dollars to have one of these new systems put on their home. Sure, they want to take advantage of the savings and reduce their energy bill, but they don’t know how to get it done within their budget. Thankfully, it doesn’t have to be as complicated as you might think. There are a number of different ways that you can reduce the cost of a new system.
Ask about the tax incentives.
One of the best ways to recover some of the money you spend on your new solar system is by taking advantage of the tax incentives out there. Through the end of the year, you can get as much as 30 percent back in the form of a tax credit. Depending on what your new system cost, the savings could be quite astronomical. The credit also covers getting a new roof installed to accommodate your new system, if the case calls for it.
Flexible financing options are abundant.
Many people aren’t aware of the fact that there are a number of different financing options available for people looking to go solar. With there being so many different companies out there, you are sure to find one that offers terms that are going to work for your needs. One of the representatives can go over some of the different options with you and what each lender has to offer. They can explain the financing rate, payment plans and whether there are additional offers available to help offset the cost of the system even more. Some systems offer rebates on them, which could help you save a few hundred, if not thousands, of dollars.
Even though you might have thought that a system was too far out of your reach, that isn’t the case. There are tons of available options to help offset the cost and allow you to take advantage of a new system in no time. Spend some time going over the tax incentives and financing promotions available to you to determine just how much money you could be saving. When all is said and done, your payment on your new system will often be less than what you are saving each month on your energy bill.