What Financing Options Are Available For Solar Arrays?

A well-designed solar system can significantly reduce your electric bill, provided multiple financial incentives to reduce your taxes, and has a life-span of up to 40 years. However, solar requires an upfront payment which can be a barrier to many individuals and organizations that want to go green.

To help more individuals and organizations take advantage of the benefits of solar power, Simpleray offers a variety of financing options that can make solar a viable choice for you. 

Residential Solar Arrays

If you are unable to purchase solar due to the large upfront cost, you can now take advantage of solar savings by paying in predictable monthly installments.

Simpleray has partnered with a financial institution that creates loans specifically for homeowners. For qualified applicants, this loan results in a lower monthly payment than your current electric bill, meaning you’ll save money without having to pay upfront.

Even better? This loan offers a low-interest rate with no payments for the first twelve months. More good news... with an expected lifespan of 40 years your solar array will last much longer than the term of your loan, so you can reap the benefits of free electricity for decades to come.


Commercial Solar Systems

Commercial properties, such as businesses and farms, can take advantage of similar loans to our residential customers. However, because commercial properties often have unique needs, we provide several different financing options that may be better suited for a business or farm.

In addition to traditional loans, Simpleray offers operating and capital lease solutions. The exact details and structure of these solutions are tailored to your properties' specific needs such as term, cash flow, and tax liability. Your Renewable Energy Consultant will work with you to find the solution that suits your organization.


Power Purchase Agreements

For government, nonprofits, and large installations, we offer power purchase agreements. A power purchase agreement allows you to enjoy a lower cost of energy without a significant investment of capital. Simpleray purchases, installs, and maintains your solar array while you pay only for the electricity it produces on a monthly basis, at a contracted and reduced rate. Power purchase agreements allow you to avoid any rises in energy costs from utilities and give you stability in your energy costs for the next 20+ years.



Unsure if one of the above finance solutions will work for you? Review some of our financing options or connect with us and a Renewable Energy Consultant will work with you to see what solution is best for you.

Tags: financing electricity charges electric bills financing options for solar


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