While the overall cost of a solar electric system has never been cheaper, its true that purchasing a solar electric system is a large investment. The total cost is offset by the 30% Federal Tax Credit for Solar, and the sale of Renewable Energy Credits, however you still have to come up with the money for the installation, if you are going to own the system. In the long run, owning your solar electric system makes the most sense financially.
The best way to finance solar in Ohio is to take out a home equity loan or line of credit and then buy down the interest rate on this loan by 3% using the State of Ohio "Eco-link" program, with a participating bank. Ecohouse will help you with this. If you are not able to obtain a home equity loan, the next best option is to take out a construction loan and still use the Eco-link program to buy down the interest rate by 3%. For more information on Eco-Link, click here.
In other state, Solar leasing has become a popular option, and this has quickly increased the number of residential solar installations in those states. Ecohouse may soon be offering a solar leasing option. Please contact us.