Okay, the short answer here is, "Yes." It really is possible to realize immediate monthly savings by going solar without putting a single cent down.
But before we explain how, there's one important caveat: Not every homeowner will be in a position to do so.
There's only one way to determine whether going solar will save you money and, if so, exactly how much and on what schedule.
You need to get an estimate of how much energy a solar system fitted to your roof will produce each month from an installer who's willing to guarantee their numbers in writing.
But, if you've got a roof surface that gets good unobstructed sunlight and your credit is okay, there's an excellent chance that solar power can give you immediate monthly savings with no money down.
Likewise, if you've got some space on your property for an array of ground-mounted solar panels, which can be positioned so they get maximal sunlight.
But how is an immediate monthly ROI with no money down possible?
It's pretty simple really.
Over the past few decades, solar panel efficiency has steadily improved while manufacturing costs continually declined. The result is that many typical homeowners can now finance a solar system at lower monthly payments than they're currently spending on electricity.
That translates to immediate monthly savings—savings that will steadily increase as electric rates inevitably rise along with the monthly cost of powering your home.
But how is it possible to not put any money down?
Of course, banks generally won't give you a decent interest rate unless you put a substantial amount down.
But remember the Solar Investment Tax Credit (ITC) that lets you deduct 30% of the full cost of going solar from your federal income tax bill?
Well the ITC does more than just cut the cost of going solar by almost a third.
If your credit is good, it's very likely that banks will be willing to credit you with a 30% downpayment in advance... so long as you agree to turn the full amount over to them come tax time, of course.
Find out how much you can save
Contact us to find out how much money solar power can save you each month.
Using satellite imagery and state-of-the-art software, our trained specialists will design the optimal solar system for your home and determine how much electricity it will generate each month.
Our production estimates are also guaranteed in writing. So if the numbers wind up looking good, you can be confident you'll be making the right decision.